Dr. Reddy’s Laboratories Ltd $RDY Stock Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC increased its stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 93.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,709 shares of the company’s stock after acquiring an additional 61,274 shares during the period. Frank Rimerman Advisors LLC’s holdings in Dr. Reddy’s Laboratories were worth $1,599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RDY. Rockefeller Capital Management L.P. raised its holdings in Dr. Reddy’s Laboratories by 67.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock valued at $29,000 after buying an additional 821 shares during the period. Groupama Asset Managment boosted its stake in Dr. Reddy’s Laboratories by 1.7% during the fourth quarter. Groupama Asset Managment now owns 55,419 shares of the company’s stock worth $778,000 after buying an additional 912 shares during the period. GAMMA Investing LLC boosted its stake in Dr. Reddy’s Laboratories by 15.4% during the second quarter. GAMMA Investing LLC now owns 14,922 shares of the company’s stock worth $216,000 after buying an additional 1,991 shares during the period. Assetmark Inc. increased its position in Dr. Reddy’s Laboratories by 11.8% during the first quarter. Assetmark Inc. now owns 21,145 shares of the company’s stock valued at $293,000 after acquiring an additional 2,240 shares during the last quarter. Finally, Confluence Investment Management LLC increased its position in Dr. Reddy’s Laboratories by 15.6% during the second quarter. Confluence Investment Management LLC now owns 17,910 shares of the company’s stock valued at $260,000 after acquiring an additional 2,414 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analysts Set New Price Targets

RDY has been the topic of several recent analyst reports. Citigroup raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “buy” rating and increased their target price for the company from $1,040.00 to $1,450.00 in a research note on Tuesday, September 29th. Wall Street Zen upgraded shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a report on Saturday. BNP Paribas Exane raised shares of Dr. Reddy’s Laboratories to an “outperform” rating and set a $14.80 price target for the company in a research note on Monday, October 12th. Finally, Weiss Ratings cut shares of Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $732.40.

Dr. Reddy’s Laboratories Trading Up 1.1%

RDY opened at $13.04 on Friday. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 2.72 and a beta of 0.29. The stock’s 50 day moving average price is $12.27 and its 200-day moving average price is $12.92. Dr. Reddy’s Laboratories Ltd has a one year low of $11.36 and a one year high of $15.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.39 and a current ratio of 1.90.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a return on equity of 9.49% and a net margin of 10.15%. The business had revenue of $850.26 million during the quarter, compared to analysts’ expectations of $850.56 million. On average, equities analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.45 EPS for the current year.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited is a multinational pharmaceutical company headquartered in Hyderabad, India. Founded in 1984 by Dr. Kallam Anji Reddy, the company develops, manufactures and markets medicines intended to make healthcare more accessible.

Its business includes generic pharmaceuticals, branded generics, over-the-counter products, active pharmaceutical ingredients and biosimilars. Dr. Reddy’s portfolio spans therapeutic areas such as gastrointestinal, cardiovascular, diabetes, oncology, pain management, dermatology and central nervous system treatments.