Ethic Inc. Has $1.40 Million Holdings in Dr. Reddy’s Laboratories Ltd $RDY

Ethic Inc. lifted its holdings in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 293.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 99,953 shares of the company’s stock after acquiring an additional 74,528 shares during the quarter. Ethic Inc.’s holdings in Dr. Reddy’s Laboratories were worth $1,403,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Dr. Reddy’s Laboratories by 13.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,341 shares of the company’s stock worth $89,000 after purchasing an additional 760 shares during the period. Summit Global Investments lifted its holdings in shares of Dr. Reddy’s Laboratories by 0.7% during the third quarter. Summit Global Investments now owns 124,364 shares of the company’s stock worth $1,739,000 after purchasing an additional 856 shares during the period. Compound Planning Inc. lifted its holdings in shares of Dr. Reddy’s Laboratories by 7.5% during the third quarter. Compound Planning Inc. now owns 12,797 shares of the company’s stock worth $179,000 after purchasing an additional 894 shares during the period. Assetmark Inc. lifted its holdings in shares of Dr. Reddy’s Laboratories by 5.2% during the third quarter. Assetmark Inc. now owns 19,837 shares of the company’s stock worth $277,000 after purchasing an additional 988 shares during the period. Finally, Profund Advisors LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 7.2% during the third quarter. Profund Advisors LLC now owns 15,305 shares of the company’s stock worth $214,000 after purchasing an additional 1,026 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RDY. The Goldman Sachs Group lowered shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Dr. Reddy’s Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Dr. Reddy’s Laboratories presently has a consensus rating of “Hold” and a consensus target price of $16.90.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE RDY opened at $12.97 on Thursday. Dr. Reddy’s Laboratories Ltd has a twelve month low of $12.19 and a twelve month high of $16.17. The firm has a fifty day simple moving average of $13.60 and a 200 day simple moving average of $13.79. The company has a market capitalization of $10.82 billion, a PE ratio of 22.35, a P/E/G ratio of 19.35 and a beta of 0.27. The company has a quick ratio of 1.38, a current ratio of 1.88 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Tuesday, May 12th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a return on equity of 12.28% and a net margin of 12.90%.The firm had revenue of $852.55 million for the quarter, compared to the consensus estimate of $886.58 million. On average, sell-side analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.58 EPS for the current year.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Ltd. is an India?based multinational pharmaceutical company that develops, manufactures and markets a wide range of pharmaceutical products and services. Established in 1984 by the late Dr. Kallam Anji Reddy, the company has grown into a diversified healthcare enterprise offering generic and proprietary medicines, active pharmaceutical ingredients (APIs), biosimilars and custom research and manufacturing services (CRAMS). Its portfolio spans therapeutic areas such as oncology, cardiovascular care, dermatology, gastroenterology and pain management.

The company’s core activities include the development and commercialization of cost?effective generic treatments for branded drugs that have lost patent protection, along with in?house research into innovative molecule development.