Marietta Investment Partners LLC Sells 2,180 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Marietta Investment Partners LLC trimmed its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 29.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,170 shares of the company’s stock after selling 2,180 shares during the quarter. Marietta Investment Partners LLC’s holdings in Dr. Reddy’s Laboratories were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Dr. Reddy’s Laboratories by 54.7% in the first quarter. GAMMA Investing LLC now owns 721 shares of the company’s stock worth $53,000 after purchasing an additional 255 shares during the period. Contravisory Investment Management Inc. bought a new position in Dr. Reddy’s Laboratories in the first quarter worth $189,000. CWM LLC lifted its position in Dr. Reddy’s Laboratories by 18.9% in the first quarter. CWM LLC now owns 2,584 shares of the company’s stock worth $190,000 after purchasing an additional 410 shares during the period. Wealthstream Advisors Inc. bought a new position in Dr. Reddy’s Laboratories in the second quarter worth $203,000. Finally, Legacy Capital Group California Inc. bought a new position in Dr. Reddy’s Laboratories in the second quarter worth $204,000. 14.02% of the stock is owned by institutional investors.

Dr. Reddy’s Laboratories Stock Performance

Dr. Reddy’s Laboratories stock opened at $78.54 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.90. The stock has a fifty day moving average price of $81.16 and a two-hundred day moving average price of $75.72. Dr. Reddy’s Laboratories Limited has a 52-week low of $63.72 and a 52-week high of $84.46. The firm has a market capitalization of $13.11 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.74 and a beta of 0.55.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Saturday, July 27th. The company reported $1.00 earnings per share (EPS) 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 company had revenue of $919.80 million for the quarter, compared to analyst estimates of $861.68 million. As a group, analysts anticipate that Dr. Reddy’s Laboratories Limited will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their target price on Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a research 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, as well as engages in the biologics business.