Fisher Asset Management LLC Sells 1,175,368 Shares of Dr. Reddy’s Laboratories Ltd $RDY

Fisher Asset Management LLC trimmed its holdings in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 69.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 506,043 shares of the company’s stock after selling 1,175,368 shares during the quarter. Fisher Asset Management LLC owned about 0.06% of Dr. Reddy’s Laboratories worth $7,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Aikya Investment Management Ltd increased its stake in Dr. Reddy’s Laboratories by 9.3% during the 4th quarter. Aikya Investment Management Ltd now owns 7,338,525 shares of the company’s stock valued at $103,033,000 after purchasing an additional 623,518 shares in the last quarter. JPMorgan Chase & Co. increased its stake in 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 stake in 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 during the last quarter. Bessemer Group Inc. increased its holdings in shares of Dr. Reddy’s Laboratories by 30.9% in the 3rd 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 in the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Dr. Reddy’s Laboratories in the 3rd quarter worth $4,760,000. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Stock Down 0.3%

Shares of Dr. Reddy’s Laboratories stock opened at $13.54 on Friday. The company has a market cap of $11.30 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 1.88 and a beta of 0.27. The company’s 50 day moving average is $13.44 and its 200 day moving average is $13.78. Dr. Reddy’s Laboratories Ltd has a twelve month low of $12.19 and a twelve month high of $16.17. The company has a quick ratio of 1.35, a current ratio of 1.80 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $852.55 million for the quarter, compared to the consensus estimate of $886.58 million. Dr. Reddy’s Laboratories had a net margin of 12.90% and a return on equity of 12.16%. Research analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.53 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RDY shares. The Goldman Sachs Group downgraded Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.90.

About Dr. Reddy’s Laboratories

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.