BNP Paribas Financial Markets Purchases 149,384 Shares of Dr. Reddy’s Laboratories Ltd $RDY

BNP Paribas Financial Markets lifted its position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,152,566 shares of the company’s stock after acquiring an additional 149,384 shares during the period. BNP Paribas Financial Markets owned approximately 0.50% of Dr. Reddy’s Laboratories worth $58,302,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 71.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock worth $47,000 after acquiring an additional 1,294 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 81.5% during the 4th quarter. Larson Financial Group LLC now owns 3,173 shares of the company’s stock worth $45,000 after acquiring an additional 1,425 shares during the period. Raymond James Financial Inc. acquired a new position in Dr. Reddy’s Laboratories during the 2nd quarter worth approximately $67,000. Westside Investment Management Inc. increased its position in Dr. Reddy’s Laboratories by 94.8% during the 3rd quarter. Westside Investment Management Inc. now owns 4,595 shares of the company’s stock worth $65,000 after purchasing an additional 2,236 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Dr. Reddy’s Laboratories during the 3rd quarter worth approximately $78,000. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Price Performance

RDY stock opened at $13.02 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.80 and a quick ratio of 1.35. Dr. Reddy’s Laboratories Ltd has a 1 year low of $12.19 and a 1 year high of $16.17. The company has a 50 day simple moving average of $13.42 and a 200 day simple moving average of $13.78. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.83 and a beta of 0.27.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a net margin of 12.90% and a return on equity of 12.34%. The business had revenue of $852.55 million during the quarter, compared to analyst estimates of $886.58 million. Research analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RDY shares. The Goldman Sachs Group cut shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded shares of Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.