Mondrian Investment Partners LTD Sells 22,329 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Mondrian Investment Partners LTD decreased its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 13.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 142,218 shares of the company’s stock after selling 22,329 shares during the period. Mondrian Investment Partners LTD owned approximately 0.09% of Dr. Reddy’s Laboratories worth $11,559,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Balentine LLC boosted its position in Dr. Reddy’s Laboratories by 28.9% during the fourth quarter. Balentine LLC now owns 8,578 shares of the company’s stock valued at $597,000 after buying an additional 1,924 shares during the period. Trexquant Investment LP bought a new position in Dr. Reddy’s Laboratories during the 4th quarter worth approximately $219,000. Assetmark Inc. grew its position in Dr. Reddy’s Laboratories by 3.2% during the 4th quarter. Assetmark Inc. now owns 47,711 shares of the company’s stock worth $3,320,000 after acquiring an additional 1,479 shares during the last quarter. Team Hewins LLC purchased a new position in Dr. Reddy’s Laboratories in the 4th quarter worth approximately $239,000. Finally, Orion Portfolio Solutions LLC lifted its position in Dr. Reddy’s Laboratories by 89.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 14,532 shares of the company’s stock valued at $1,015,000 after purchasing an additional 6,846 shares during the last quarter. Institutional investors own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Stock Performance

Dr. Reddy’s Laboratories stock opened at $79.51 on Wednesday. Dr. Reddy’s Laboratories Limited has a 1-year low of $63.72 and a 1-year high of $84.46. The firm has a market cap of $13.27 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.74 and a beta of 0.55. 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 firm has a 50-day moving average of $81.14 and a 200-day moving average of $75.63.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Saturday, July 27th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.10). Dr. Reddy’s Laboratories had a return on equity of 20.32% and a net margin of 19.28%. The business had revenue of $919.80 million during the quarter, compared to analysts’ expectations of $861.68 million. Sell-side analysts expect that Dr. Reddy’s Laboratories Limited will post 4.11 EPS for the current year.

Analysts Set New Price Targets

Separately, Barclays raised their target price 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.

About Dr. Reddy’s Laboratories

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.