Channing Global Advisors LLC Sells 1,696 Shares of 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% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in Dr. Reddy’s Laboratories during the fourth quarter valued at $34,000. FSC Wealth Advisors LLC bought a new stake in shares of Dr. Reddy’s Laboratories during the 3rd quarter valued at about $40,000. CWM LLC grew its stake in shares of Dr. Reddy’s Laboratories by 37.9% during the 4th quarter. CWM LLC now owns 2,174 shares of the company’s stock valued at $151,000 after acquiring an additional 598 shares during the period. Blue Trust Inc. grew its stake in shares of Dr. Reddy’s Laboratories by 77.3% during the 4th quarter. Blue Trust Inc. now owns 3,378 shares of the company’s stock valued at $227,000 after acquiring an additional 1,473 shares during the period. Finally, Lindbrook Capital LLC grew its stake in shares of Dr. Reddy’s Laboratories by 19.1% during the 4th quarter. Lindbrook Capital LLC now owns 3,519 shares of the company’s stock valued at $245,000 after acquiring an additional 565 shares during the period. Institutional investors own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Stock Up 0.4 %

Shares of RDY traded up $0.32 during midday trading on Friday, reaching $74.34. 37,544 shares of the stock were exchanged, compared to its average volume of 192,928. Dr. Reddy’s Laboratories Limited has a 52 week low of $53.12 and a 52 week 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 company’s 50 day moving average is $74.21 and its two-hundred day moving average is $70.35. The company has a market capitalization of $12.41 billion, a P/E ratio of 19.53, a PEG ratio of 1.77 and a beta of 0.58.

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

Analyst Upgrades and Downgrades

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

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.