RWC Asset Advisors US LLC Buys New Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

RWC Asset Advisors US LLC bought a new stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,174 shares of the company’s stock, valued at approximately $569,000. Dr. Reddy’s Laboratories accounts for 0.0% of RWC Asset Advisors US LLC’s holdings, making the stock its 19th biggest holding.

Several other large investors also recently added to or reduced their stakes in the business. Aikya Investment Management Ltd purchased a new position in Dr. Reddy’s Laboratories during the fourth quarter valued at approximately $75,850,000. Robeco Institutional Asset Management B.V. lifted its holdings 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 purchasing an additional 218,605 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Dr. Reddy’s Laboratories by 416.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 196,146 shares of the company’s stock valued at $13,648,000 after purchasing an additional 158,141 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Dr. Reddy’s Laboratories by 319.2% during the third quarter. Qube Research & Technologies Ltd now owns 174,398 shares of the company’s stock valued at $11,662,000 after purchasing an additional 132,791 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Dr. Reddy’s Laboratories during the third quarter valued at approximately $7,433,000. 14.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. StockNews.com raised shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Finally, Barclays boosted their target price on shares of Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.00.

Dr. Reddy’s Laboratories Price Performance

Dr. Reddy’s Laboratories stock traded up $0.53 during mid-day trading on Friday, reaching $74.55. 216,239 shares of the company’s stock traded hands, compared to its average volume of 171,372. The company has a market cap of $12.44 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.85 and a beta of 0.58. The stock has a 50 day moving average of $74.17 and a two-hundred day moving average of $70.43. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories Limited has a 12-month low of $53.12 and a 12-month high of $77.72.

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

Dr. Reddy’s Laboratories Company 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.