Dr. Reddy’s Laboratories Ltd $RDY Stock Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 93.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,709 shares of the company’s stock after buying an additional 61,274 shares during the period. Frank Rimerman Advisors LLC’s holdings in Dr. Reddy’s Laboratories were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Dr. Reddy’s Laboratories by 4.6% in the 1st quarter. Royal Bank of Canada now owns 9,984,082 shares of the company’s stock worth $138,293,000 after buying an additional 434,805 shares during the period. Bessemer Group Inc. raised its holdings in Dr. Reddy’s Laboratories by 28.4% during the first quarter. Bessemer Group Inc. now owns 1,823,285 shares of the company’s stock valued at $25,253,000 after acquiring an additional 403,219 shares during the period. Quantinno Capital Management LP raised its holdings in Dr. Reddy’s Laboratories by 71.2% during the first quarter. Quantinno Capital Management LP now owns 637,094 shares of the company’s stock valued at $8,824,000 after acquiring an additional 264,856 shares during the period. Sei Investments Co. raised its holdings in Dr. Reddy’s Laboratories by 79.3% during the first quarter. Sei Investments Co. now owns 436,731 shares of the company’s stock valued at $6,049,000 after acquiring an additional 193,174 shares during the period. Finally, Nykredit A S purchased a new position in shares of Dr. Reddy’s Laboratories in the second quarter valued at about $2,000,000. Institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RDY. Citigroup raised Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and upped their price objective for the stock from $1,040.00 to $1,450.00 in a research note on Tuesday, September 29th. Wall Street Zen raised Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday. BNP Paribas Exane raised Dr. Reddy’s Laboratories to an “outperform” rating and set a $14.80 target price on the stock in a research note on Monday, October 12th. Finally, Weiss Ratings cut Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Dr. Reddy’s Laboratories has an average rating of “Hold” and a consensus price target of $732.40.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE:RDY opened at $13.04 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a fifty day moving average price of $12.27 and a 200 day moving average price of $12.92. Dr. Reddy’s Laboratories Ltd has a fifty-two week low of $11.36 and a fifty-two week high of $15.67. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 2.72 and a beta of 0.29.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Thursday, July 23rd. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $850.26 million for the quarter, compared to analysts’ expectations of $850.56 million. Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.49%. As a group, sell-side analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.45 earnings per share for the current fiscal year.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Limited is a multinational pharmaceutical company headquartered in Hyderabad, India. Founded in 1984 by Dr. Kallam Anji Reddy, the company develops, manufactures and markets medicines intended to make healthcare more accessible.

Its business includes generic pharmaceuticals, branded generics, over-the-counter products, active pharmaceutical ingredients and biosimilars. Dr. Reddy’s portfolio spans therapeutic areas such as gastrointestinal, cardiovascular, diabetes, oncology, pain management, dermatology and central nervous system treatments.