Cerity Partners LLC Buys 1,504 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Cerity Partners LLC lifted its stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,508 shares of the company’s stock after purchasing an additional 1,504 shares during the quarter. Cerity Partners LLC’s holdings in Dr. Reddy’s Laboratories were worth $870,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Aikya Investment Management Ltd bought a new stake in shares of Dr. Reddy’s Laboratories during the fourth quarter valued at about $75,850,000. Robeco Institutional Asset Management B.V. grew its stake in Dr. Reddy’s Laboratories by 15.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,673,126 shares of the company’s stock valued at $111,882,000 after acquiring an additional 218,605 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Dr. Reddy’s Laboratories by 416.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 196,146 shares of the company’s stock worth $13,648,000 after acquiring an additional 158,141 shares during the period. Qube Research & Technologies Ltd lifted its stake in Dr. Reddy’s Laboratories by 319.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 174,398 shares of the company’s stock worth $11,662,000 after purchasing an additional 132,791 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in Dr. Reddy’s Laboratories in the 3rd quarter valued at $7,433,000. Hedge funds and other institutional investors own 14.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RDY. Barclays increased their price objective on Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. StockNews.com raised Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Finally, Jefferies Financial Group lowered Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.00.

Dr. Reddy’s Laboratories Stock Performance

Dr. Reddy’s Laboratories stock opened at $72.10 on Tuesday. Dr. Reddy’s Laboratories Limited has a fifty-two week low of $53.12 and a fifty-two week high of $77.72. The firm’s fifty day moving average price is $74.37 and its 200-day moving average price is $70.31. The stock has a market cap of $12.03 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.11. The firm had revenue of $867.00 million during the quarter, compared to analyst estimates of $827.81 million. Dr. Reddy’s Laboratories had a return on equity of 20.97% and a net margin of 19.26%. On average, equities research analysts expect that Dr. Reddy’s Laboratories Limited will post 3.96 earnings per share for the current fiscal year.

Dr. Reddy’s Laboratories Profile

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.