Dr. Reddy's Laboratories Limited (NYSE:RDY) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 382.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,418,428 shares of the company's stock after buying an additional 7,467,979 shares during the quarter. Renaissance Technologies LLC owned about 1.13% of Dr. Reddy's Laboratories worth $148,717,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in Dr. Reddy's Laboratories by 423.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock valued at $29,000 after purchasing an additional 1,507 shares during the last quarter. POM Investment Strategies LLC boosted its position in Dr. Reddy's Laboratories by 400.0% in the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company's stock valued at $36,000 after buying an additional 1,820 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Dr. Reddy's Laboratories by 461.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock valued at $40,000 after buying an additional 2,093 shares during the last quarter. Sierra Ocean LLC acquired a new position in Dr. Reddy's Laboratories in the 4th quarter worth approximately $43,000. Finally, Allworth Financial LP raised its position in Dr. Reddy's Laboratories by 447.8% during the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company's stock worth $41,000 after buying an additional 2,230 shares during the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

Dr. Reddy's Laboratories Stock Performance

RDY traded up $0.51 during midday trading on Friday, hitting $13.22. 2,756,790 shares of the company were exchanged, compared to its average volume of 1,402,462. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 21.04 and a beta of 0.51. The company's 50 day simple moving average is $13.20 and its 200 day simple moving average is $14.35. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. Dr. Reddy's Laboratories Limited has a 1-year low of $12.26 and a 1-year high of $16.89.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. Dr. Reddy's Laboratories had a return on equity of 17.87% and a net margin of 17.25%. As a group, sell-side analysts predict that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Nomura downgraded shares of Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a report on Thursday, December 19th.

Dr. Reddy's Laboratories Company Profile

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.