National Bank of Canada FI Has $13.88 Million Stock Holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

National Bank of Canada FI grew its stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 81.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,120 shares of the company’s stock after purchasing an additional 82,724 shares during the quarter. National Bank of Canada FI owned about 0.11% of Dr. Reddy’s Laboratories worth $13,884,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RDY. GAMMA Investing LLC increased its position in shares of Dr. Reddy’s Laboratories by 54.7% during the 1st quarter. GAMMA Investing LLC now owns 721 shares of the company’s stock worth $53,000 after purchasing an additional 255 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Dr. Reddy’s Laboratories during the 1st quarter worth approximately $189,000. CWM LLC increased its position in shares of Dr. Reddy’s Laboratories by 18.9% during the 1st quarter. CWM LLC now owns 2,584 shares of the company’s stock worth $190,000 after purchasing an additional 410 shares during the last quarter. Wealthstream Advisors Inc. acquired a new position in shares of Dr. Reddy’s Laboratories during the 2nd quarter worth approximately $203,000. Finally, Legacy Capital Group California Inc. acquired a new position in shares of Dr. Reddy’s Laboratories during the 2nd quarter worth approximately $204,000. Institutional investors and hedge funds own 14.02% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RDY. StockNews.com lowered Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th. Barclays lifted their target price on Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th.

Dr. Reddy’s Laboratories Stock Performance

Shares of NYSE RDY opened at $79.20 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories Limited has a 12 month low of $63.72 and a 12 month high of $84.46. The stock has a 50 day moving average of $80.77 and a 200-day moving average of $75.52. The company has a market capitalization of $13.22 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.84 and a beta of 0.55.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results 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). The firm had revenue of $919.80 million during the quarter, compared to the consensus estimate of $861.68 million. Dr. Reddy’s Laboratories had a net margin of 19.28% and a return on equity of 20.32%. As a group, equities research analysts predict that Dr. Reddy’s Laboratories Limited will post 4.11 EPS for the current year.

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.