Caprock Group LLC Takes Position in Dr. Reddy’s Laboratories Ltd $RDY

Caprock Group LLC acquired a new stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,786 shares of the company’s stock, valued at approximately $522,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealthstream Advisors Inc. raised its holdings in shares of Dr. Reddy’s Laboratories by 20.3% in the 3rd quarter. Wealthstream Advisors Inc. now owns 21,258 shares of the company’s stock valued at $297,000 after purchasing an additional 3,580 shares in the last quarter. Profund Advisors LLC increased its holdings in Dr. Reddy’s Laboratories by 7.2% during the third quarter. Profund Advisors LLC now owns 15,305 shares of the company’s stock valued at $214,000 after buying an additional 1,026 shares during the period. Bessemer Group Inc. raised its stake in Dr. Reddy’s Laboratories by 30.9% in the third quarter. Bessemer Group Inc. now owns 1,350,988 shares of the company’s stock worth $18,887,000 after buying an additional 318,621 shares in the last quarter. Savant Capital LLC lifted its holdings in Dr. Reddy’s Laboratories by 16.6% during the third quarter. Savant Capital LLC now owns 32,275 shares of the company’s stock worth $451,000 after buying an additional 4,605 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in Dr. Reddy’s Laboratories by 162.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 30,615 shares of the company’s stock valued at $428,000 after acquiring an additional 18,934 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings cut Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Dr. Reddy’s Laboratories has an average rating of “Hold” and an average price target of $16.90.

Dr. Reddy’s Laboratories Trading Up 1.8%

Shares of NYSE:RDY opened at $14.40 on Wednesday. The business’s 50-day moving average is $13.80 and its 200 day moving average is $14.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.88 and a quick ratio of 1.38. Dr. Reddy’s Laboratories Ltd has a 1 year low of $12.26 and a 1 year high of $16.17. The firm has a market capitalization of $12.02 billion, a P/E ratio of 18.70, a P/E/G ratio of 12.85 and a beta of 0.35.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Wednesday, January 21st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Dr. Reddy’s Laboratories had a return on equity of 15.89% and a net margin of 16.41%.The business had revenue of $969.81 million for the quarter, compared to analyst estimates of $963.84 million. On average, research analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Ltd. is an India‐based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost‐effective generic treatments for branded drugs that have lost patent protection, along with in‐house research into innovative molecule development.