Quadrant Capital Group LLC lifted its holdings in Dr.Reddy’s Laboratories Ltd (NYSE:RDY) by 92.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,070 shares of the company’s stock after purchasing an additional 6,272 shares during the quarter. Quadrant Capital Group LLC’s holdings in Dr.Reddy’s Laboratories were worth $526,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in RDY. Charles Lim Capital Ltd bought a new position in Dr.Reddy’s Laboratories during the fourth quarter valued at about $15,525,000. BlackRock Inc. boosted its stake in Dr.Reddy’s Laboratories by 14.0% during the fourth quarter. BlackRock Inc. now owns 1,978,415 shares of the company’s stock valued at $74,588,000 after buying an additional 242,856 shares in the last quarter. Macquarie Group Ltd. bought a new position in Dr.Reddy’s Laboratories during the third quarter valued at about $7,266,000. Dimensional Fund Advisors LP boosted its stake in Dr.Reddy’s Laboratories by 9.9% during the third quarter. Dimensional Fund Advisors LP now owns 918,416 shares of the company’s stock valued at $31,792,000 after buying an additional 82,589 shares in the last quarter. Finally, ClariVest Asset Management LLC boosted its stake in Dr.Reddy’s Laboratories by 56.8% during the fourth quarter. ClariVest Asset Management LLC now owns 149,300 shares of the company’s stock valued at $5,629,000 after buying an additional 54,100 shares in the last quarter. 12.26% of the stock is owned by institutional investors.
Shares of RDY traded down $0.18 during midday trading on Wednesday, reaching $37.84. 177,936 shares of the stock were exchanged, compared to its average volume of 198,568. Dr.Reddy’s Laboratories Ltd has a 12-month low of $28.49 and a 12-month high of $42.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.81 and a quick ratio of 1.26. The company has a market capitalization of $6.54 billion, a PE ratio of 23.07 and a beta of 0.13.
Several research analysts recently weighed in on RDY shares. CL King raised Dr.Reddy’s Laboratories from a “neutral” rating to a “buy” rating in a research note on Monday, February 4th. Zacks Investment Research upgraded Dr.Reddy’s Laboratories from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, March 19th. TheStreet raised Dr.Reddy’s Laboratories from a “c+” rating to a “b” rating in a research note on Friday, February 1st. Finally, Morgan Stanley downgraded Dr.Reddy’s Laboratories from an “overweight” rating to an “equal weight” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $44.00.
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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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