Promethos Capital LLC boosted its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY – Free Report) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,734 shares of the company’s stock after acquiring an additional 17,050 shares during the period. Dr. Reddy’s Laboratories comprises about 3.8% of Promethos Capital LLC’s portfolio, making the stock its 7th largest position. Promethos Capital LLC owned approximately 0.08% of Dr. Reddy’s Laboratories worth $10,210,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in Dr. Reddy’s Laboratories by 54.7% in the first quarter. GAMMA Investing LLC now owns 721 shares of the company’s stock valued at $53,000 after purchasing an additional 255 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Dr. Reddy’s Laboratories during the 1st quarter worth approximately $189,000. CWM LLC lifted its position in Dr. Reddy’s Laboratories by 18.9% during the first quarter. CWM LLC now owns 2,584 shares of the company’s stock valued at $190,000 after acquiring an additional 410 shares during the last quarter. Wealthstream Advisors Inc. acquired a new stake in Dr. Reddy’s Laboratories in the second quarter valued at approximately $203,000. Finally, Legacy Capital Group California Inc. acquired a new stake in Dr. Reddy’s Laboratories in the second quarter worth about $204,000. Institutional investors own 14.02% of the company’s stock.
Dr. Reddy’s Laboratories Stock Performance
Shares of RDY stock opened at $78.35 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. The company has a market capitalization of $13.08 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.74 and a beta of 0.55. The business’s 50 day moving average is $81.18 and its two-hundred day moving average is $75.71. Dr. Reddy’s Laboratories Limited has a 12-month low of $63.72 and a 12-month high of $84.46.
Analysts Set New Price Targets
Separately, Barclays boosted their price target on Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th.
Check Out Our Latest Stock Analysis on Dr. Reddy’s Laboratories
Dr. Reddy’s Laboratories Company Profile
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.
Featured Stories
- Five stocks we like better than Dr. Reddy’s Laboratories
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Edgewise Therapeutics Soars 50%: Key Reasons Behind the Surge
- 3 Best Fintech Stocks for a Portfolio Boost
- How the Fed’s Rate Cut Could Supercharge These 3 ETFs
- How to Most Effectively Use the MarketBeat Earnings Screener
- Microsoft Stock: 3 Reasons It’s Ready to Crush Q4
Want to see what other hedge funds are holding RDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dr. Reddy’s Laboratories Limited (NYSE:RDY – Free Report).
Receive News & Ratings for Dr. Reddy's Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dr. Reddy's Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.