Victory Capital Management Inc. Sells 572 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Victory Capital Management Inc. reduced its stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,551 shares of the company’s stock after selling 572 shares during the quarter. Victory Capital Management Inc.’s holdings in Dr. Reddy’s Laboratories were worth $1,261,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. National Bank of Canada FI lifted its position in Dr. Reddy’s Laboratories by 81.6% in the 2nd quarter. National Bank of Canada FI now owns 184,120 shares of the company’s stock valued at $13,884,000 after acquiring an additional 82,724 shares in the last quarter. Augustine Asset Management Inc. lifted its position in Dr. Reddy’s Laboratories by 0.4% in the 2nd quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company’s stock valued at $3,857,000 after acquiring an additional 181 shares in the last quarter. Natixis Advisors LLC bought a new stake in Dr. Reddy’s Laboratories during the 2nd quarter worth about $777,000. Drive Wealth Management LLC bought a new stake in Dr. Reddy’s Laboratories during the 2nd quarter worth about $206,000. Finally, Adero Partners LLC bought a new stake in Dr. Reddy’s Laboratories during the 2nd quarter worth about $304,000. 14.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Barclays boosted their price target on shares of Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th.

Dr. Reddy’s Laboratories Trading Down 0.6 %

Shares of NYSE:RDY opened at $78.35 on Friday. The company’s 50-day moving average price is $81.18 and its two-hundred day moving average price is $75.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90. Dr. Reddy’s Laboratories Limited has a one year low of $63.72 and a one year high of $84.46. The stock has a market capitalization of $13.08 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.74 and a beta of 0.55.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Saturday, July 27th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.10). The firm had revenue of $919.80 million for the quarter, compared to analyst estimates of $861.68 million. Dr. Reddy’s Laboratories had a return on equity of 20.32% and a net margin of 19.28%. On average, equities analysts forecast that Dr. Reddy’s Laboratories Limited will post 4.11 EPS for the current fiscal 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, as well as engages in the biologics business.