Prudential Financial Inc. Cuts Holdings in Dr.Reddy’s Laboratories Ltd (NYSE:RDY)

Prudential Financial Inc. reduced its holdings in shares of Dr.Reddy’s Laboratories Ltd (NYSE:RDY) by 15.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 134,100 shares of the company’s stock after selling 23,600 shares during the quarter. Prudential Financial Inc. owned approximately 0.08% of Dr.Reddy’s Laboratories worth $5,025,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in RDY. Signaturefd LLC lifted its position in Dr.Reddy’s Laboratories by 9.4% during the 1st quarter. Signaturefd LLC now owns 3,643 shares of the company’s stock worth $148,000 after acquiring an additional 312 shares during the period. Greenleaf Trust boosted its holdings in shares of Dr.Reddy’s Laboratories by 4.0% during the second quarter. Greenleaf Trust now owns 8,512 shares of the company’s stock worth $319,000 after purchasing an additional 329 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Dr.Reddy’s Laboratories by 0.5% in the second quarter. BNP Paribas Arbitrage SA now owns 86,366 shares of the company’s stock valued at $3,236,000 after acquiring an additional 419 shares during the last quarter. Cornerstone Advisors Inc. boosted its holdings in Dr.Reddy’s Laboratories by 93.3% in the first quarter. Cornerstone Advisors Inc. now owns 949 shares of the company’s stock valued at $38,000 after acquiring an additional 458 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its holdings in Dr.Reddy’s Laboratories by 3.6% in the second quarter. Wetherby Asset Management Inc. now owns 14,904 shares of the company’s stock valued at $559,000 after acquiring an additional 522 shares during the last quarter. 13.05% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE RDY traded down $0.35 during trading on Friday, hitting $38.87. The company had a trading volume of 1,366 shares, compared to its average volume of 165,399. The company has a market cap of $6.45 billion, a P/E ratio of 23.69 and a beta of 0.18. Dr.Reddy’s Laboratories Ltd has a 52 week low of $31.58 and a 52 week high of $42.82. The business’s 50-day moving average is $36.33 and its 200 day moving average is $38.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.32 and a current ratio of 1.89.

Dr.Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.18. Dr.Reddy’s Laboratories had a return on equity of 14.94% and a net margin of 13.44%. The company had revenue of $558.00 million for the quarter. On average, research analysts expect that Dr.Reddy’s Laboratories Ltd will post 2.06 EPS for the current year.

A number of analysts have recently issued reports on RDY shares. Zacks Investment Research raised Dr.Reddy’s Laboratories from a “strong sell” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, July 19th. Barclays assumed coverage on Dr.Reddy’s Laboratories in a research report on Tuesday, June 11th. They set an “equal weight” rating and a $39.00 price objective for the company. Deutsche Bank began coverage on Dr.Reddy’s Laboratories in a research report on Thursday, June 20th. They set a “hold” rating for the company. Morgan Stanley cut Dr.Reddy’s Laboratories from an “overweight” rating to an “equal weight” rating in a report on Monday, May 20th. Finally, ValuEngine cut Dr.Reddy’s Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $39.50.

Dr.Reddy’s Laboratories Company Profile

Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The 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 dosage with therapeutic equivalence to branded formulations.

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Institutional Ownership by Quarter for Dr.Reddy`s Laboratories (NYSE:RDY)

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