Trade Report: The Bank of Montreal Can Acquires 86,532 Shares of Dr. Reddy’s Laboratories Ltd. (RDY)

The Bank of Montreal Can Acquires 86,532  Shares of Dr. Reddy’s Laboratories Ltd. (RDY)

Bank of Montreal Can bought a new position in Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) during the second quarter, Holdings Channel reports. The firm bought 86,532 shares of the company’s stock, valued at approximately $4,433,000.

A number of other hedge funds have also recently bought and sold shares of RDY. Fisher Asset Management LLC raised its stake in Dr. Reddy’s Laboratories by 9.5% in the second quarter. Fisher Asset Management LLC now owns 5,227,024 shares of the company’s stock worth $284,611,000 after buying an additional 451,679 shares during the period. Creative Planning raised its stake in Dr. Reddy’s Laboratories by 11.8% in the second quarter. Creative Planning now owns 8,009 shares of the company’s stock worth $410,000 after buying an additional 844 shares during the period. Vontobel Asset Management Inc. raised its stake in Dr. Reddy’s Laboratories by 1.9% in the second quarter. Vontobel Asset Management Inc. now owns 1,270,516 shares of the company’s stock worth $65,765,000 after buying an additional 23,410 shares during the period. TT International raised its stake in Dr. Reddy’s Laboratories by 2.7% in the second quarter. TT International now owns 44,976 shares of the company’s stock worth $2,304,000 after buying an additional 1,167 shares during the period. Finally, Royal Bank of Canada raised its stake in Dr. Reddy’s Laboratories by 206.9% in the first quarter. Royal Bank of Canada now owns 1,855,073 shares of the company’s stock worth $83,830,000 after buying an additional 1,250,644 shares during the period. 16.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of Dr. Reddy’s Laboratories Ltd. (NYSE:RDY) traded up 0.68% during midday trading on Thursday, hitting $45.82. 367,659 shares of the stock were exchanged. The firm has a 50-day moving average of $46.62 and a 200-day moving average of $46.69. Dr. Reddy’s Laboratories Ltd. has a 1-year low of $40.67 and a 1-year high of $68.00. The company has a market capitalization of $7.58 billion, a P/E ratio of 34.76 and a beta of 0.78.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.00 earnings per share for the quarter. Dr. Reddy’s Laboratories had a net margin of 10.09% and a return on equity of 12.27%. The company had revenue of $479 million for the quarter, compared to analysts’ expectations of $557 million. On average, equities analysts expect that Dr. Reddy’s Laboratories Ltd. will post $1.33 EPS for the current year.

A number of research firms recently weighed in on RDY. Zacks Investment Research raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, September 29th. HSBC cut shares of Dr. Reddy’s Laboratories from a “hold” rating to a “reduce” rating in a research note on Wednesday, July 27th. Jefferies Group cut shares of Dr. Reddy’s Laboratories from a “hold” rating to an “underperform” rating and cut their price target for the stock from $45.00 to $41.90 in a research note on Wednesday, July 27th. Finally, Credit Suisse Group AG cut shares of Dr. Reddy’s Laboratories from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 26th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $51.45.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited is an integrated global pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. Global Generics segment consists of its business of manufacturing and marketing prescription and over-the-counter (OTC) finished pharmaceutical products, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).

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