Caprock Group LLC Buys New Shares in Dr. Reddy’s Laboratories Ltd $RDY

Caprock Group LLC bought a new position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 36,786 shares of the company’s stock, valued at approximately $522,000.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Dr. Reddy’s Laboratories by 157.7% in the second quarter. JPMorgan Chase & Co. now owns 5,910,786 shares of the company’s stock valued at $88,839,000 after purchasing an additional 3,617,435 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Dr. Reddy’s Laboratories by 7.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 13,084,506 shares of the company’s stock valued at $182,921,000 after buying an additional 921,078 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Dr. Reddy’s Laboratories by 43.8% in the 2nd quarter. Acadian Asset Management LLC now owns 2,116,358 shares of the company’s stock worth $31,798,000 after buying an additional 644,835 shares during the period. Creative Planning raised its position in Dr. Reddy’s Laboratories by 105.0% during the 2nd quarter. Creative Planning now owns 1,094,932 shares of the company’s stock worth $16,457,000 after buying an additional 560,823 shares during the last quarter. Finally, Aikya Investment Management Ltd lifted its stake in Dr. Reddy’s Laboratories by 5.7% during the 3rd quarter. Aikya Investment Management Ltd now owns 6,715,007 shares of the company’s stock valued at $93,876,000 after acquiring an additional 360,028 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Price Performance

NYSE:RDY opened at $14.40 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.88 and a quick ratio of 1.38. The company has a 50 day moving average price of $13.80 and a 200-day moving average price of $14.01. Dr. Reddy’s Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.17. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 12.85 and a beta of 0.35.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Wednesday, January 21st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Dr. Reddy’s Laboratories had a net margin of 16.41% and a return on equity of 15.89%. The company had revenue of $969.81 million for the quarter, compared to analyst estimates of $963.84 million. Equities research analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.90.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.