Prudential Financial Inc. Sells 23,600 Shares of Dr.Reddy’s Laboratories Ltd (NYSE:RDY)

Prudential Financial Inc. trimmed its position in shares of Dr.Reddy’s Laboratories Ltd (NYSE:RDY) by 15.0% in the second quarter, Holdings Channel reports. The fund owned 134,100 shares of the company’s stock after selling 23,600 shares during the quarter. Prudential Financial Inc.’s holdings in Dr.Reddy’s Laboratories were worth $5,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in RDY. Cornerstone Advisors Inc. boosted its holdings in Dr.Reddy’s Laboratories by 93.3% during the first quarter. Cornerstone Advisors Inc. now owns 949 shares of the company’s stock valued at $38,000 after acquiring an additional 458 shares during the period. Parallel Advisors LLC boosted its holdings in Dr.Reddy’s Laboratories by 172.1% during the first quarter. Parallel Advisors LLC now owns 1,045 shares of the company’s stock valued at $42,000 after acquiring an additional 661 shares during the period. Advisors Preferred LLC bought a new stake in Dr.Reddy’s Laboratories during the second quarter valued at about $55,000. Advisor Group Inc. boosted its holdings in Dr.Reddy’s Laboratories by 167.7% during the second quarter. Advisor Group Inc. now owns 3,692 shares of the company’s stock valued at $138,000 after acquiring an additional 2,313 shares during the period. Finally, Signaturefd LLC raised its position in shares of Dr.Reddy’s Laboratories by 9.4% during the first quarter. Signaturefd LLC now owns 3,643 shares of the company’s stock valued at $148,000 after buying an additional 312 shares during the last quarter. Institutional investors own 13.05% of the company’s stock.

Shares of RDY traded down $0.35 during trading hours on Friday, reaching $38.87. 1,366 shares of the company traded hands, compared to its average volume of 165,399. The stock’s fifty day moving average is $36.33 and its 200 day moving average is $38.28. The stock has a market cap of $6.45 billion, a P/E ratio of 23.69 and a beta of 0.18. 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 Ltd has a 1-year low of $31.58 and a 1-year high of $42.82.



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

A number of research analysts have recently commented on RDY shares. ValuEngine lowered shares of Dr.Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Barclays started coverage on shares of Dr.Reddy’s Laboratories in a research report on Tuesday, June 11th. They set an “equal weight” rating and a $39.00 price objective for the company. 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. TheStreet raised shares of Dr.Reddy’s Laboratories from a “c” rating to a “b-” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank started coverage on shares of Dr.Reddy’s Laboratories in a research report on Thursday, June 20th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $39.50.

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.

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

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