Arta Finance Wealth Management LLC Takes $626,000 Position in Dr. Reddy’s Laboratories Ltd $RDY

Arta Finance Wealth Management LLC acquired a new position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 44,581 shares of the company’s stock, valued at approximately $626,000.

Other hedge funds have also bought and sold shares of the company. Aikya Investment Management Ltd raised its position in shares of Dr. Reddy’s Laboratories by 5.7% in the 3rd quarter. Aikya Investment Management Ltd now owns 6,715,007 shares of the company’s stock worth $93,876,000 after acquiring an additional 360,028 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Dr. Reddy’s Laboratories by 2.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,027,710 shares of the company’s stock valued at $84,267,000 after purchasing an additional 116,924 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Dr. Reddy’s Laboratories by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,123,709 shares of the company’s stock valued at $71,629,000 after purchasing an additional 148,662 shares in the last quarter. Bessemer Group Inc. grew its stake in Dr. Reddy’s Laboratories by 30.9% during the third quarter. Bessemer Group Inc. now owns 1,350,988 shares of the company’s stock worth $18,887,000 after purchasing an additional 318,621 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Dr. Reddy’s Laboratories during the third quarter worth approximately $4,760,000. Institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.90.

Dr. Reddy’s Laboratories Trading Up 0.2%

NYSE:RDY opened at $13.34 on Friday. Dr. Reddy’s Laboratories Ltd has a 12 month low of $12.26 and a 12 month high of $16.17. The company has a current ratio of 1.88, a quick ratio of 1.38 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 13.18 and a beta of 0.35. The firm has a fifty day simple moving average of $14.04 and a two-hundred day simple moving average of $13.99.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Wednesday, January 21st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $969.81 million for the quarter, compared to analyst estimates of $963.84 million. Dr. Reddy’s Laboratories had a net margin of 16.41% and a return on equity of 15.89%. Analysts expect that Dr. Reddy’s Laboratories Ltd will post 0.8 EPS 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.