Inspire Investing LLC Reduces Stock Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Inspire Investing LLC decreased its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 11.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,548 shares of the company’s stock after selling 1,424 shares during the quarter. Inspire Investing LLC’s holdings in Dr. Reddy’s Laboratories were worth $917,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RDY. Ritholtz Wealth Management raised its position in Dr. Reddy’s Laboratories by 9.9% during the 3rd quarter. Ritholtz Wealth Management now owns 17,415 shares of the company’s stock valued at $1,384,000 after purchasing an additional 1,568 shares during the last quarter. Artemis Investment Management LLP raised its holdings in shares of Dr. Reddy’s Laboratories by 280.2% during the third quarter. Artemis Investment Management LLP now owns 59,306 shares of the company’s stock valued at $4,712,000 after acquiring an additional 43,706 shares in the last quarter. Aprio Wealth Management LLC lifted its stake in Dr. Reddy’s Laboratories by 14.2% in the third quarter. Aprio Wealth Management LLC now owns 3,055 shares of the company’s stock worth $243,000 after acquiring an additional 380 shares during the period. GAMMA Investing LLC boosted its holdings in Dr. Reddy’s Laboratories by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock valued at $115,000 after acquiring an additional 657 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Dr. Reddy’s Laboratories by 318.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company’s stock valued at $28,411,000 after purchasing an additional 283,700 shares during the period. 14.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barclays raised their price objective on shares of Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th.

Dr. Reddy’s Laboratories Stock Performance

RDY stock opened at $78.83 on Tuesday. The stock’s 50 day simple moving average is $80.67 and its 200 day simple moving average is $76.23. 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 12-month low of $63.72 and a 12-month high of $84.46. The stock has a market capitalization of $13.16 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.73 and a beta of 0.55.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Saturday, July 27th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.10). The business had revenue of $919.80 million during the quarter, compared to analysts’ expectations of $861.68 million. Dr. Reddy’s Laboratories had a return on equity of 20.32% and a net margin of 19.28%. As a group, research analysts forecast that Dr. Reddy’s Laboratories Limited will post 4.11 earnings per share for the current fiscal 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, as well as engages in the biologics business.