Dr. Reddy’s Laboratories Ltd $RDY Stake Reduced by Lazard Asset Management LLC

Lazard Asset Management LLC cut its stake in Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 9.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,059,831 shares of the company’s stock after selling 108,731 shares during the period. Lazard Asset Management LLC’s holdings in Dr. Reddy’s Laboratories were worth $14,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 valued at $89,000 after acquiring an additional 760 shares during the period. EWA LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 7.0% in the 4th quarter. EWA LLC now owns 12,465 shares of the company’s stock worth $175,000 after acquiring an additional 818 shares during the period. Rockefeller Capital Management L.P. lifted its position in Dr. Reddy’s Laboratories by 67.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the company’s stock valued at $29,000 after purchasing an additional 821 shares during the last quarter. Stifel Financial Corp lifted its position in Dr. Reddy’s Laboratories by 3.8% in the 4th quarter. Stifel Financial Corp now owns 23,464 shares of the company’s stock valued at $329,000 after purchasing an additional 861 shares during the last quarter. Finally, Groupama Asset Managment boosted its stake in Dr. Reddy’s Laboratories by 1.7% during the 4th quarter. Groupama Asset Managment now owns 55,419 shares of the company’s stock valued at $778,000 after purchasing an additional 912 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Stock Up 0.4%

RDY stock opened at $11.78 on Thursday. The firm’s 50-day moving average is $13.38 and its two-hundred day moving average is $13.59. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.35 and a beta of 0.25. Dr. Reddy’s Laboratories Ltd has a 52 week low of $11.36 and a 52 week high of $15.67. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.03.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Dr. Reddy’s Laboratories had a net margin of 10.15% and a return on equity of 9.49%. The company had revenue of $850.26 million during the quarter, compared to the consensus estimate of $850.56 million. On average, analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on RDY. Wall Street Zen cut shares of Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. The Goldman Sachs Group lowered Dr. Reddy’s Laboratories from a “neutral” rating to a “sell” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings downgraded Dr. Reddy’s Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

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.