34,557 Shares in Dr. Reddy’s Laboratories Limited (NYSE:RDY) Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC purchased a new stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 34,557 shares of the company’s stock, valued at approximately $2,633,000.

A number of other institutional investors also recently modified their holdings of RDY. Schroder Investment Management Group grew its stake in Dr. Reddy’s Laboratories by 77.6% in the 4th quarter. Schroder Investment Management Group now owns 266,653 shares of the company’s stock valued at $18,554,000 after buying an additional 116,488 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Dr. Reddy’s Laboratories by 126.5% during the fourth quarter. Fisher Asset Management LLC now owns 205,280 shares of the company’s stock valued at $14,283,000 after acquiring an additional 114,630 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Dr. Reddy’s Laboratories by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock valued at $76,455,000 after purchasing an additional 114,294 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Dr. Reddy’s Laboratories by 2,197.8% in the first quarter. Jane Street Group LLC now owns 113,168 shares of the company’s stock worth $8,301,000 after purchasing an additional 108,243 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Dr. Reddy’s Laboratories during the 1st quarter worth about $6,543,000. Institutional investors own 14.02% of the company’s stock.

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 company an “overweight” rating in a report on Tuesday, July 30th.

Dr. Reddy’s Laboratories Price Performance

NYSE:RDY opened at $78.54 on Friday. 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 market cap of $13.11 billion, a P/E ratio of 19.49, a PEG ratio of 1.74 and a beta of 0.55. The company has a fifty day moving average price of $81.16 and a 200 day moving average price of $75.72. Dr. Reddy’s Laboratories Limited has a one year low of $63.72 and a one year high of $84.46.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Saturday, July 27th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.10). Dr. Reddy’s Laboratories had a net margin of 19.28% and a return on equity of 20.32%. The company had revenue of $919.80 million for the quarter, compared to analyst estimates of $861.68 million. Analysts anticipate that Dr. Reddy’s Laboratories Limited will post 4.11 earnings per share for the current year.

Dr. Reddy’s Laboratories 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.