Dr.Reddy’s Laboratories Ltd (NYSE:RDY) Stock Position Raised by Bank of America Corp DE

Bank of America Corp DE lifted its holdings in shares of Dr.Reddy’s Laboratories Ltd (NYSE:RDY) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 188,488 shares of the company’s stock after buying an additional 1,859 shares during the period. Bank of America Corp DE owned 0.11% of Dr.Reddy’s Laboratories worth $7,062,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RDY. Natixis bought a new stake in shares of Dr.Reddy’s Laboratories during the 2nd quarter valued at about $15,799,000. BlackRock Inc. grew its position in Dr.Reddy’s Laboratories by 10.1% in the 2nd quarter. BlackRock Inc. now owns 1,966,545 shares of the company’s stock worth $73,688,000 after purchasing an additional 179,778 shares during the last quarter. Renaissance Technologies LLC grew its position in Dr.Reddy’s Laboratories by 12.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,198,600 shares of the company’s stock worth $44,912,000 after purchasing an additional 134,600 shares during the last quarter. Aperio Group LLC grew its position in Dr.Reddy’s Laboratories by 27.5% in the 2nd quarter. Aperio Group LLC now owns 501,664 shares of the company’s stock worth $18,797,000 after purchasing an additional 108,284 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Dr.Reddy’s Laboratories by 624.2% in the 2nd quarter. Schroder Investment Management Group now owns 99,118 shares of the company’s stock worth $3,714,000 after purchasing an additional 85,432 shares during the last quarter. 13.08% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on RDY. ValuEngine cut shares of Dr.Reddy’s Laboratories from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Deutsche Bank began coverage on shares of Dr.Reddy’s Laboratories in a research report on Thursday, June 20th. They issued a “hold” rating for the company. Macquarie upgraded shares of Dr.Reddy’s Laboratories from a “neutral” rating to an “outperform” rating in a research report on Monday, July 1st. Zacks Investment Research upgraded shares of Dr.Reddy’s Laboratories from a “strong sell” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, July 19th. Finally, TheStreet upgraded shares of Dr.Reddy’s Laboratories from a “c” rating to a “b-” rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.50.

NYSE RDY opened at $37.34 on Friday. Dr.Reddy’s Laboratories Ltd has a 52 week low of $31.69 and a 52 week high of $42.82. The company has a current ratio of 1.89, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 22.77 and a beta of 0.21. The company has a 50-day moving average price of $37.44 and a two-hundred day moving average price of $38.27.

Dr.Reddy’s Laboratories (NYSE:RDY) last posted its earnings results on Monday, July 29th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.40 by $0.18. Dr.Reddy’s Laboratories had a net margin of 13.44% and a return on equity of 14.94%. The firm had revenue of $558.00 million during the quarter. As a group, equities research analysts expect that Dr.Reddy’s Laboratories Ltd will post 2.06 earnings per share for the current fiscal year.

Dr.Reddy’s Laboratories Company Profile

Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The 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 dosage with therapeutic equivalence to branded formulations.

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Institutional Ownership by Quarter for Dr.Reddy`s Laboratories (NYSE:RDY)

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