AQR Capital Management LLC Sells 7,598 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

AQR Capital Management LLC lowered its stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 7.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 91,186 shares of the company’s stock after selling 7,598 shares during the period. AQR Capital Management LLC’s holdings in Dr. Reddy’s Laboratories were worth $6,926,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in RDY. Schroder Investment Management Group lifted its holdings in Dr. Reddy’s Laboratories by 77.6% during the fourth quarter. Schroder Investment Management Group now owns 266,653 shares of the company’s stock valued at $18,554,000 after purchasing an additional 116,488 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Dr. Reddy’s Laboratories by 126.5% during the fourth quarter. Fisher Asset Management LLC now owns 205,280 shares of the company’s stock valued at $14,283,000 after purchasing an additional 114,630 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Dr. Reddy’s Laboratories by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock valued at $76,455,000 after purchasing an additional 114,294 shares during the last quarter. Jane Street Group LLC lifted its holdings in Dr. Reddy’s Laboratories by 2,197.8% during the first quarter. Jane Street Group LLC now owns 113,168 shares of the company’s stock valued at $8,301,000 after purchasing an additional 108,243 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Dr. Reddy’s Laboratories during the first quarter valued at about $6,543,000. 14.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Dr. Reddy’s Laboratories Trading Up 0.4 %

Shares of Dr. Reddy’s Laboratories stock opened at $79.57 on Friday. Dr. Reddy’s Laboratories Limited has a 12-month low of $63.72 and a 12-month high of $84.46. The company has a market cap of $13.28 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 1.75 and a beta of 0.55. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $81.17 and its 200-day moving average price is $75.92.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Saturday, July 27th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.10). Dr. Reddy’s Laboratories had a return on equity of 20.32% and a net margin of 19.28%. The firm had revenue of $919.80 million during the quarter, compared to analysts’ expectations of $861.68 million. On average, equities analysts expect that Dr. Reddy’s Laboratories Limited will post 4.11 earnings per share for the current fiscal year.

About Dr. Reddy’s Laboratories

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.