Dr. Reddy’s Laboratories Ltd $RDY Stock Holdings Raised by Aikya Investment Management Ltd

Aikya Investment Management Ltd increased its position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,715,007 shares of the company’s stock after buying an additional 360,028 shares during the quarter. Dr. Reddy’s Laboratories accounts for 26.3% of Aikya Investment Management Ltd’s portfolio, making the stock its 3rd largest position. Aikya Investment Management Ltd owned about 0.80% of Dr. Reddy’s Laboratories worth $93,876,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in RDY. Westside Investment Management Inc. bought a new position in shares of Dr. Reddy’s Laboratories during the second quarter valued at about $35,000. EverSource Wealth Advisors LLC boosted its position in 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 valued at $47,000 after buying an additional 1,294 shares during the period. Farther Finance Advisors LLC increased its position in shares of Dr. Reddy’s Laboratories by 217.4% in the third quarter. Farther Finance Advisors LLC now owns 3,568 shares of the company’s stock valued at $50,000 after acquiring an additional 2,444 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Dr. Reddy’s Laboratories in the second quarter worth about $67,000. Finally, Allworth Financial LP grew its position in shares of Dr. Reddy’s Laboratories by 37.8% in the 2nd quarter. Allworth Financial LP now owns 4,827 shares of the company’s stock worth $73,000 after buying an additional 1,323 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Dr. Reddy’s Laboratories from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.90.

Dr. Reddy’s Laboratories Stock Performance

Shares of Dr. Reddy’s Laboratories stock opened at $13.41 on Friday. Dr. Reddy’s Laboratories Ltd has a 1 year low of $12.26 and a 1 year high of $16.17. The firm’s 50-day moving average is $13.78 and its 200 day moving average is $14.05. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 11.82 and a beta of 0.37. 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 (NYSE:RDY) last issued its earnings results on Wednesday, January 21st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Dr. Reddy’s Laboratories had a net margin of 16.41% and a return on equity of 15.89%. The business had revenue of $969.81 million during the quarter, compared to analysts’ expectations of $963.84 million. Sell-side analysts anticipate 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.