Channing Global Advisors LLC Has $315,000 Stock Holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Channing Global Advisors LLC reduced its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 27.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,525 shares of the company’s stock after selling 1,696 shares during the period. Channing Global Advisors LLC’s holdings in Dr. Reddy’s Laboratories were worth $315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its holdings in Dr. Reddy’s Laboratories by 15.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,673,126 shares of the company’s stock worth $111,882,000 after purchasing an additional 218,605 shares during the last quarter. Aikya Investment Management Ltd purchased a new position in Dr. Reddy’s Laboratories during the fourth quarter worth about $75,850,000. Vanguard Group Inc. boosted its holdings in Dr. Reddy’s Laboratories by 2.0% during the third quarter. Vanguard Group Inc. now owns 1,048,152 shares of the company’s stock worth $70,090,000 after purchasing an additional 20,341 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Dr. Reddy’s Laboratories by 26.9% during the third quarter. Acadian Asset Management LLC now owns 270,260 shares of the company’s stock worth $18,066,000 after purchasing an additional 57,293 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Dr. Reddy’s Laboratories by 47.5% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 250,788 shares of the company’s stock worth $16,770,000 after purchasing an additional 80,784 shares during the last quarter. 14.02% of the stock is currently owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Stock Performance

Shares of NYSE RDY traded up $0.32 during midday trading on Friday, hitting $74.34. The company’s stock had a trading volume of 37,544 shares, compared to its average volume of 192,928. The stock has a fifty day moving average price of $74.21 and a 200 day moving average price of $70.35. Dr. Reddy’s Laboratories Limited has a one year low of $53.12 and a one year high of $77.72. 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 firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 1.77 and a beta of 0.58.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.11. Dr. Reddy’s Laboratories had a net margin of 19.26% and a return on equity of 20.97%. The company had revenue of $867.00 million for the quarter, compared to analyst estimates of $827.81 million. On average, research analysts forecast that Dr. Reddy’s Laboratories Limited will post 3.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RDY. StockNews.com raised shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 5th. Barclays lifted their price objective on shares of Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Finally, Jefferies Financial Group lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $80.00.

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.