Assenagon Asset Management S.A. Acquires Shares of 137,020 Dr. Reddy’s Laboratories Ltd $RDY

Assenagon Asset Management S.A. bought a new position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 137,020 shares of the company’s stock, valued at approximately $1,898,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RDY. Aikya Investment Management Ltd grew its position in shares of 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 worth $103,033,000 after buying an additional 623,518 shares during the period. JPMorgan Chase & Co. raised its position in shares of Dr. Reddy’s Laboratories by 2.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,027,710 shares of the company’s stock valued at $84,267,000 after acquiring an additional 116,924 shares during the period. 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 worth $71,629,000 after acquiring an additional 148,662 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Dr. Reddy’s Laboratories during the 3rd quarter worth approximately $4,760,000. Finally, American Century Companies Inc. boosted its stake in Dr. Reddy’s Laboratories by 13.8% during the 3rd quarter. American Century Companies Inc. now owns 1,192,048 shares of the company’s stock worth $16,665,000 after acquiring an additional 144,530 shares during the last quarter. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Stock Down 3.1%

Shares of RDY stock opened at $14.04 on Thursday. Dr. Reddy’s Laboratories Ltd has a 12-month low of $12.19 and a 12-month high of $15.67. The company has a quick ratio of 1.34, a current ratio of 1.80 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average of $13.58 and a 200-day moving average of $13.74. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 1.99 and a beta of 0.25.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $852.55 million during 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 12.34%. As a group, equities research analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on RDY. The Goldman Sachs Group downgraded shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research note on Thursday, April 23rd. Weiss Ratings cut shares of Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

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.