Portland Hill Asset Management Ltd Has $1.54 Million Stock Position in Dr.Reddy’s Laboratories Ltd (NYSE:RDY)

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Portland Hill Asset Management Ltd decreased its position in Dr.Reddy’s Laboratories Ltd (NYSE:RDY) by 13.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,033 shares of the company’s stock after selling 6,304 shares during the period. Dr.Reddy’s Laboratories comprises approximately 1.1% of Portland Hill Asset Management Ltd’s holdings, making the stock its 15th largest holding. Portland Hill Asset Management Ltd’s holdings in Dr.Reddy’s Laboratories were worth $1,544,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RDY. Advisor Group Inc. grew its stake in shares of Dr.Reddy’s Laboratories by 147.2% in the 4th quarter. Advisor Group Inc. now owns 979 shares of the company’s stock valued at $37,000 after purchasing an additional 583 shares during the period. Cornerstone Advisors Inc. grew its stake in shares of Dr.Reddy’s Laboratories by 93.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 949 shares of the company’s stock valued at $38,000 after purchasing an additional 458 shares during the period. Parallel Advisors LLC grew its stake in shares of Dr.Reddy’s Laboratories by 172.1% in the 1st quarter. Parallel Advisors LLC now owns 1,045 shares of the company’s stock valued at $42,000 after purchasing an additional 661 shares during the period. Private Capital Group LLC grew its stake in shares of Dr.Reddy’s Laboratories by 58.2% in the 1st quarter. Private Capital Group LLC now owns 1,169 shares of the company’s stock valued at $47,000 after purchasing an additional 430 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Dr.Reddy’s Laboratories by 9.4% in the 1st quarter. Signaturefd LLC now owns 3,643 shares of the company’s stock valued at $148,000 after purchasing an additional 312 shares during the period. 12.82% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on RDY shares. Deutsche Bank started coverage on Dr.Reddy’s Laboratories in a research note on Thursday, June 20th. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Dr.Reddy’s Laboratories from a “strong sell” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Friday, July 19th. Barclays initiated coverage on Dr.Reddy’s Laboratories in a research note on Tuesday, June 11th. They issued an “equal weight” rating and a $39.00 price objective on the stock. Morgan Stanley lowered Dr.Reddy’s Laboratories from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 20th. Finally, Macquarie upgraded Dr.Reddy’s Laboratories from a “neutral” rating to an “outperform” rating in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $39.50.

NYSE RDY traded down $0.29 during trading hours on Wednesday, reaching $35.06. 2,576 shares of the company’s stock were exchanged, compared to its average volume of 196,057. The company has a market cap of $5.84 billion, a PE ratio of 21.27 and a beta of 0.21. Dr.Reddy’s Laboratories Ltd has a one year low of $31.58 and a one year high of $42.82. The business’s fifty day simple moving average is $37.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.89.

Dr.Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Monday, July 29th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.18. The business had revenue of $558.00 million for the quarter. Dr.Reddy’s Laboratories had a return on equity of 14.94% and a net margin of 13.44%. On average, equities analysts forecast that Dr.Reddy’s Laboratories Ltd will post 2.06 earnings per share for the current fiscal year.

Dr.Reddy’s Laboratories Company Profile

Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosage with therapeutic equivalence to branded formulations.

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Institutional Ownership by Quarter for Dr.Reddy`s Laboratories (NYSE:RDY)

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