Logan Capital Management Inc. Grows Holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Logan Capital Management Inc. increased its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDYGet Rating) by 33.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 20,080 shares of the company’s stock after buying an additional 4,983 shares during the period. Logan Capital Management Inc.’s holdings in Dr. Reddy’s Laboratories were worth $1,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of RDY. Invesco Ltd. boosted its stake in Dr. Reddy’s Laboratories by 502.0% in the first quarter. Invesco Ltd. now owns 80,734 shares of the company’s stock valued at $4,499,000 after acquiring an additional 67,322 shares during the period. UBS Group AG boosted its stake in Dr. Reddy’s Laboratories by 39.8% in the first quarter. UBS Group AG now owns 47,274 shares of the company’s stock valued at $2,634,000 after acquiring an additional 13,470 shares during the period. Canada Pension Plan Investment Board acquired a new position in Dr. Reddy’s Laboratories in the first quarter valued at approximately $4,046,000. Dimensional Fund Advisors LP boosted its stake in Dr. Reddy’s Laboratories by 13.5% in the first quarter. Dimensional Fund Advisors LP now owns 660,612 shares of the company’s stock valued at $36,841,000 after acquiring an additional 78,763 shares during the period. Finally, Desjardins Global Asset Management Inc. boosted its stake in Dr. Reddy’s Laboratories by 8.7% in the first quarter. Desjardins Global Asset Management Inc. now owns 4,628 shares of the company’s stock valued at $257,000 after acquiring an additional 369 shares during the period. Institutional investors own 9.88% of the company’s stock.

Dr. Reddy’s Laboratories Price Performance

NYSE RDY opened at $53.47 on Monday. Dr. Reddy’s Laboratories Limited has a 12 month low of $47.88 and a 12 month high of $67.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.98 and a quick ratio of 1.41. The firm has a market capitalization of $8.90 billion, a PE ratio of 22.85, a P/E/G ratio of 0.64 and a beta of 0.45. The company’s 50 day simple moving average is $53.69 and its 200 day simple moving average is $53.88.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd. TheStreet raised Dr. Reddy’s Laboratories from a “c+” rating to a “b” rating in a report on Friday, August 26th. Finally, Barclays lifted their price target on Dr. Reddy’s Laboratories from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, May 24th.

Dr. Reddy’s Laboratories Profile

(Get Rating)

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), Proprietary Products, 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.

See Also

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

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