Dr.Reddy’s Laboratories Ltd (NYSE:RDY) Shares Purchased by United Services Automobile Association

United Services Automobile Association raised its stake in shares of Dr.Reddy’s Laboratories Ltd (NYSE:RDY) by 59.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 57,583 shares of the company’s stock after purchasing an additional 21,465 shares during the quarter. United Services Automobile Association’s holdings in Dr.Reddy’s Laboratories were worth $2,158,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RDY. Natixis acquired a new position in Dr.Reddy’s Laboratories during the second quarter worth approximately $15,799,000. Bamco Inc. NY increased its position in Dr.Reddy’s Laboratories by 612.2% during the second quarter. Bamco Inc. NY now owns 330,360 shares of the company’s stock worth $12,379,000 after purchasing an additional 283,975 shares during the last quarter. BlackRock Inc. increased its position in Dr.Reddy’s Laboratories by 10.1% during the second quarter. BlackRock Inc. now owns 1,966,545 shares of the company’s stock worth $73,688,000 after purchasing an additional 179,778 shares during the last quarter. Renaissance Technologies LLC increased its position in Dr.Reddy’s Laboratories by 12.7% during the second quarter. Renaissance Technologies LLC now owns 1,198,600 shares of the company’s stock worth $44,912,000 after purchasing an additional 134,600 shares during the last quarter. Finally, Aperio Group LLC increased its position in Dr.Reddy’s Laboratories by 27.5% during the second quarter. Aperio Group LLC now owns 501,664 shares of the company’s stock worth $18,797,000 after purchasing an additional 108,284 shares during the last quarter. 13.08% of the stock is owned by hedge funds and other institutional investors.

RDY has been the subject of several research analyst reports. Macquarie raised shares of Dr.Reddy’s Laboratories from a “neutral” rating to an “outperform” rating in a research report on Monday, July 1st. ValuEngine lowered shares of Dr.Reddy’s Laboratories from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Dr.Reddy’s Laboratories from a “strong sell” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, July 19th. Deutsche Bank began coverage on shares of Dr.Reddy’s Laboratories in a research report on Thursday, June 20th. They set a “hold” rating for the company. Finally, Credit Suisse Group raised shares of Dr.Reddy’s Laboratories from an “underperform” rating to an “outperform” rating in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.50.

Dr.Reddy’s Laboratories stock opened at $36.90 on Wednesday. Dr.Reddy’s Laboratories Ltd has a 52-week low of $31.69 and a 52-week high of $42.82. The firm has a fifty day moving average of $37.31 and a 200-day moving average of $38.30. The firm has a market capitalization of $6.14 billion, a P/E ratio of 22.50 and a beta of 0.21. The company has a quick ratio of 1.32, a current ratio of 1.89 and a debt-to-equity ratio of 0.11.

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

Dr.Reddy’s Laboratories 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.

Further Reading: Price-Sales Ratio

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

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