SG Americas Securities LLC Buys New Stake in Dr. Reddy’s Laboratories Ltd $RDY

SG Americas Securities LLC purchased a new position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 82,316 shares of the company’s stock, valued at approximately $1,140,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDY. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Dr. Reddy’s Laboratories by 13.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,341 shares of the company’s stock valued at $89,000 after purchasing an additional 760 shares during the period. EWA LLC lifted its position in shares of Dr. Reddy’s Laboratories by 7.0% during the 4th quarter. EWA LLC now owns 12,465 shares of the company’s stock worth $175,000 after buying an additional 818 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Dr. Reddy’s Laboratories by 67.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock worth $29,000 after buying an additional 821 shares during the period. Stifel Financial Corp boosted its stake in Dr. Reddy’s Laboratories by 3.8% in the 4th quarter. Stifel Financial Corp now owns 23,464 shares of the company’s stock valued at $329,000 after buying an additional 861 shares in the last quarter. Finally, Groupama Asset Managment boosted its stake in Dr. Reddy’s Laboratories by 1.7% in the 4th quarter. Groupama Asset Managment now owns 55,419 shares of the company’s stock valued at $778,000 after buying an additional 912 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings lowered Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. 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. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Dr. Reddy’s Laboratories Trading Up 0.1%

RDY opened at $14.39 on Friday. Dr. Reddy’s Laboratories Ltd has a 1-year low of $12.19 and a 1-year high of $15.67. The stock has a market capitalization of $12.01 billion, a PE ratio of 24.81, a PEG ratio of 1.98 and a beta of 0.25. The company has a current ratio of 1.80, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $13.64 and a two-hundred day moving average price of $13.75.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Tuesday, May 12th. The company reported $0.06 earnings per share (EPS) 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 analyst estimates of $886.58 million. Dr. Reddy’s Laboratories had a return on equity of 12.34% and a net margin of 12.90%. As a group, equities analysts anticipate that Dr. Reddy’s Laboratories Ltd will post 0.53 earnings per share for the current fiscal year.

Dr. Reddy’s Laboratories 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.