BNP Paribas Financial Markets Purchases 149,384 Shares of Dr. Reddy’s Laboratories Ltd $RDY

BNP Paribas Financial Markets grew its position in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 4,152,566 shares of the company’s stock after buying an additional 149,384 shares during the period. BNP Paribas Financial Markets’ holdings in Dr. Reddy’s Laboratories were worth $58,302,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 81.5% in the 4th quarter. Larson Financial Group LLC now owns 3,173 shares of the company’s stock valued at $45,000 after purchasing an additional 1,425 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 71.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,100 shares of the company’s stock valued at $47,000 after purchasing an additional 1,294 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of Dr. Reddy’s Laboratories by 94.8% in the 3rd quarter. Westside Investment Management Inc. now owns 4,595 shares of the company’s stock valued at $65,000 after purchasing an additional 2,236 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Dr. Reddy’s Laboratories in the 2nd quarter valued at $67,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Dr. Reddy’s Laboratories in the 3rd quarter valued at $78,000. 3.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. The Goldman Sachs Group lowered shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.90.

Dr. Reddy’s Laboratories Stock Down 1.8%

Shares of NYSE RDY opened at $13.02 on Wednesday. The firm has a market cap of $10.86 billion, a PE ratio of 22.44, a P/E/G ratio of 1.83 and a beta of 0.27. Dr. Reddy’s Laboratories Ltd has a 12-month low of $12.19 and a 12-month high of $16.17. The company’s fifty day simple moving average is $13.42 and its 200 day simple moving average is $13.78. The company has a quick ratio of 1.35, a current ratio of 1.80 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Tuesday, May 12th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $852.55 million for the quarter, compared to the consensus estimate of $886.58 million. Dr. Reddy’s Laboratories had a return on equity of 12.34% and a net margin of 12.90%. As a group, sell-side analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.53 earnings per share for the current fiscal year.

Dr. Reddy’s Laboratories 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.