Candriam S.C.A. Sells 10,000 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Candriam S.C.A. lessened its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 20.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 40,000 shares of the company’s stock after selling 10,000 shares during the period. Candriam S.C.A.’s holdings in Dr. Reddy’s Laboratories were worth $3,047,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Schroder Investment Management Group lifted its position in Dr. Reddy’s Laboratories by 77.6% during the 4th quarter. Schroder Investment Management Group now owns 266,653 shares of the company’s stock worth $18,554,000 after buying an additional 116,488 shares in the last quarter. Fisher Asset Management LLC grew 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 period. Jane Street Group LLC increased its stake in Dr. Reddy’s Laboratories by 2,197.8% in 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Dr. Reddy’s Laboratories in the first quarter worth $6,543,000. Finally, National Bank of Canada FI boosted its position in shares of Dr. Reddy’s Laboratories by 81.6% during the second quarter. National Bank of Canada FI now owns 184,120 shares of the company’s stock worth $13,884,000 after purchasing an additional 82,724 shares in the last quarter. Institutional investors own 14.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RDY. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th. Barclays increased their price target on Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY opened at $79.61 on Tuesday. The firm’s 50 day moving average price is $80.85 and its two-hundred day moving average price is $75.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.90 and a current ratio of 2.55. Dr. Reddy’s Laboratories Limited has a twelve month low of $63.72 and a twelve month high of $84.46. The firm has a market cap of $13.29 billion, a P/E ratio of 19.75, a PEG ratio of 1.74 and a beta of 0.55.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Saturday, July 27th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.10). The company had revenue of $919.80 million during the quarter, compared to the consensus estimate of $861.68 million. Dr. Reddy’s Laboratories had a net margin of 19.28% and a return on equity of 20.32%. On average, 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.