Frank Rimerman Advisors LLC bought a new stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 34,557 shares of the company’s stock, valued at approximately $2,633,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its holdings in shares of Dr. Reddy’s Laboratories by 2.3% during the second quarter. QRG Capital Management Inc. now owns 7,910 shares of the company’s stock valued at $603,000 after acquiring an additional 180 shares during the period. Augustine Asset Management Inc. increased its position in shares of Dr. Reddy’s Laboratories by 0.4% during the 2nd quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company’s stock worth $3,857,000 after purchasing an additional 181 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its holdings in Dr. Reddy’s Laboratories by 3.1% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock valued at $470,000 after purchasing an additional 184 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Dr. Reddy’s Laboratories by 1.6% in the first quarter. Sequoia Financial Advisors LLC now owns 14,526 shares of the company’s stock valued at $1,065,000 after buying an additional 232 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in Dr. Reddy’s Laboratories by 2.4% in the first quarter. First Trust Direct Indexing L.P. now owns 10,634 shares of the company’s stock valued at $780,000 after buying an additional 251 shares in the last quarter. Institutional investors own 14.02% of the company’s stock.
Dr. Reddy’s Laboratories Price Performance
Dr. Reddy’s Laboratories stock opened at $78.54 on Friday. Dr. Reddy’s Laboratories Limited has a 52 week low of $63.72 and a 52 week high of $84.46. The firm has a market cap of $13.11 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.74 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55. The business’s fifty day moving average is $81.16 and its two-hundred day moving average is $75.72.
Analyst Ratings Changes
Separately, Barclays raised their price objective on shares of Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th.
Check Out Our Latest Report on Dr. Reddy’s Laboratories
About Dr. Reddy’s Laboratories
Dr. Reddy’s Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company’s Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.
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