Healthcare of Ontario Pension Plan Trust Fund Acquires 283,700 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 318.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 372,900 shares of the company’s stock after acquiring an additional 283,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.22% of Dr. Reddy’s Laboratories worth $28,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Jane Street Group LLC lifted its holdings in Dr. Reddy’s Laboratories by 2,197.8% during the first quarter. Jane Street Group LLC now owns 113,168 shares of the company’s stock valued at $8,301,000 after purchasing an additional 108,243 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Dr. Reddy’s Laboratories by 46.9% in the 1st quarter. BNP Paribas Financial Markets now owns 103,259 shares of the company’s stock worth $7,574,000 after buying an additional 32,958 shares during the period. OLD Mission Capital LLC increased its stake in Dr. Reddy’s Laboratories by 66.2% in the 1st quarter. OLD Mission Capital LLC now owns 47,537 shares of the company’s stock worth $3,487,000 after buying an additional 18,930 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Dr. Reddy’s Laboratories by 11.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 62,177 shares of the company’s stock valued at $4,561,000 after acquiring an additional 6,322 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the second quarter valued at about $2,633,000. Institutional investors own 14.02% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays lifted their target price on Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th.

Dr. Reddy’s Laboratories Stock Up 0.4 %

RDY opened at $79.57 on Friday. The company has a market capitalization of $13.28 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 1.75 and a beta of 0.55. The firm has a 50-day simple moving average of $81.17 and a two-hundred day simple moving average of $75.92. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories Limited has a 52 week low of $63.72 and a 52 week high of $84.46.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced 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 net margin of 19.28% and a return on equity of 20.32%. The firm had revenue of $919.80 million for the quarter, compared to the consensus estimate of $861.68 million. Analysts forecast that Dr. Reddy’s Laboratories Limited will post 4.11 earnings per share for the current fiscal 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, as well as engages in the biologics business.