Renaissance Technologies LLC Raises Stock Holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Renaissance Technologies LLC raised its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 3.4% in the second quarter, Holdings Channel reports. The firm owned 1,995,495 shares of the company’s stock after purchasing an additional 65,606 shares during the period. Renaissance Technologies LLC’s holdings in Dr. Reddy’s Laboratories were worth $152,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Balentine LLC grew its position in Dr. Reddy’s Laboratories by 28.9% during the fourth quarter. Balentine LLC now owns 8,578 shares of the company’s stock valued at $597,000 after buying an additional 1,924 shares during the period. Trexquant Investment LP bought a new stake in shares of Dr. Reddy’s Laboratories in the 4th quarter worth approximately $219,000. Assetmark Inc. lifted its stake in Dr. Reddy’s Laboratories by 3.2% in the fourth quarter. Assetmark Inc. now owns 47,711 shares of the company’s stock valued at $3,320,000 after purchasing an additional 1,479 shares during the last quarter. Team Hewins LLC bought a new position in Dr. Reddy’s Laboratories during the fourth quarter valued at $239,000. Finally, Orion Portfolio Solutions LLC increased its position in Dr. Reddy’s Laboratories by 89.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 14,532 shares of the company’s stock worth $1,015,000 after buying an additional 6,846 shares during the last quarter. Institutional investors own 14.02% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays increased their price target 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 Up 0.1 %

RDY opened at $80.37 on Monday. Dr. Reddy’s Laboratories Limited has a 12 month low of $63.72 and a 12 month high of $84.46. The company has a market cap of $13.41 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.74 and a beta of 0.55. 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 50 day moving average of $81.10 and a 200 day moving average of $75.61.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results 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 return on equity of 20.32% and a net margin of 19.28%. The company had revenue of $919.80 million during the quarter, compared to the consensus estimate of $861.68 million. On average, sell-side analysts expect 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.