Dr. Reddy’s Laboratories Limited (NYSE:RDY) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,383 shares of the company’s stock after buying an additional 1,226 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Dr. Reddy’s Laboratories were worth $722,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Dr. Reddy’s Laboratories by 8.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 115,499 shares of the company’s stock valued at $8,036,000 after purchasing an additional 9,414 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Dr. Reddy’s Laboratories by 3.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 14,294 shares of the company’s stock valued at $995,000 after purchasing an additional 501 shares during the last quarter. Wellington Management Group LLP raised its stake in Dr. Reddy’s Laboratories by 40.7% in the 3rd quarter. Wellington Management Group LLP now owns 141,154 shares of the company’s stock valued at $9,439,000 after purchasing an additional 40,825 shares during the last quarter. Nordea Investment Management AB raised its stake in Dr. Reddy’s Laboratories by 5.3% in the 3rd quarter. Nordea Investment Management AB now owns 23,855 shares of the company’s stock valued at $1,601,000 after purchasing an additional 1,196 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in Dr. Reddy’s Laboratories by 62.4% in the 3rd quarter. Schroder Investment Management Group now owns 150,165 shares of the company’s stock valued at $10,042,000 after purchasing an additional 57,681 shares during the last quarter. 14.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RDY has been the subject of several analyst reports. Barclays upped their target price on Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Jefferies Financial Group cut Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. Finally, StockNews.com cut Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $80.00.

Dr. Reddy’s Laboratories Stock Performance

NYSE RDY opened at $75.21 on Friday. The stock has a market cap of $12.55 billion, a PE ratio of 19.84, a P/E/G ratio of 1.88 and a beta of 0.57. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories Limited has a twelve month low of $53.12 and a twelve month high of $77.72. The stock has a fifty day simple moving average of $73.97 and a 200-day simple moving average of $70.73.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Wednesday, January 31st. The company reported $0.99 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 company had revenue of $867.00 million during the quarter, compared to analysts’ expectations of $827.81 million. Equities analysts anticipate that Dr. Reddy’s Laboratories Limited will post 3.96 earnings per share for the current year.

Dr. Reddy’s Laboratories Company 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.