Desjardins Global Asset Management Inc. Buys 255 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Desjardins Global Asset Management Inc. raised its stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,786 shares of the company’s stock after purchasing an additional 255 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Dr. Reddy’s Laboratories were worth $263,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RDY. Sequoia Financial Advisors LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 1.1% in the third quarter. Sequoia Financial Advisors LLC now owns 13,793 shares of the company’s stock worth $922,000 after acquiring an additional 151 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Dr. Reddy’s Laboratories by 1.5% in the third quarter. Envestnet Asset Management Inc. now owns 12,388 shares of the company’s stock worth $648,000 after acquiring an additional 187 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 1.7% in the third quarter. Janney Montgomery Scott LLC now owns 12,550 shares of the company’s stock worth $839,000 after acquiring an additional 214 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 1.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 20,200 shares of the company’s stock worth $1,351,000 after acquiring an additional 300 shares during the period. Finally, Schechter Investment Advisors LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 6.8% in the third quarter. Schechter Investment Advisors LLC now owns 4,769 shares of the company’s stock worth $319,000 after acquiring an additional 304 shares during the period. Institutional investors own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Price Performance

NYSE:RDY opened at $70.92 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $11.84 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.79 and a beta of 0.58. Dr. Reddy’s Laboratories Limited has a 12 month low of $53.12 and a 12 month high of $77.72. The business’s 50-day moving average is $74.50 and its 200 day moving average is $70.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11. Dr. Reddy’s Laboratories had a return on equity of 20.97% and a net margin of 19.26%. The business had revenue of $867.00 million for the quarter, compared to the consensus estimate of $827.81 million. On average, equities research analysts forecast that Dr. Reddy’s Laboratories Limited will post 3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays boosted their target price on Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Jefferies Financial Group downgraded Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a research report on Thursday, January 11th. Finally, StockNews.com upgraded Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Dr. Reddy’s Laboratories currently has an average rating of “Hold” and an average target price of $80.00.

Dr. Reddy’s Laboratories Profile

Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's 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 dosages with therapeutic equivalence to branded formulations.