Hanson & Doremus Investment Management boosted its stake in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 400.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,170 shares of the company's stock after buying an additional 18,536 shares during the period. Hanson & Doremus Investment Management's holdings in Dr. Reddy's Laboratories were worth $366,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Bank of Montreal Can lifted its stake in shares of Dr. Reddy's Laboratories by 75.4% in the second quarter. Bank of Montreal Can now owns 9,918 shares of the company's stock worth $758,000 after buying an additional 4,262 shares in the last quarter. Millennium Management LLC raised its holdings in Dr. Reddy's Laboratories by 61.4% in the 2nd quarter. Millennium Management LLC now owns 332,502 shares of the company's stock worth $25,333,000 after acquiring an additional 126,472 shares during the last quarter. Creative Planning lifted its position in Dr. Reddy's Laboratories by 22.6% in the 2nd quarter. Creative Planning now owns 87,522 shares of the company's stock valued at $6,668,000 after acquiring an additional 16,157 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Dr. Reddy's Laboratories by 318.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company's stock valued at $28,411,000 after purchasing an additional 283,700 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Dr. Reddy's Laboratories by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,447 shares of the company's stock worth $115,000 after purchasing an additional 657 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.
Dr. Reddy's Laboratories Stock Performance
NYSE:RDY traded up $0.03 on Friday, hitting $13.84. The stock had a trading volume of 2,193,546 shares, compared to its average volume of 1,944,099. The business's 50-day simple moving average is $14.81 and its two-hundred day simple moving average is $15.44. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 22.03 and a beta of 0.51. Dr. Reddy's Laboratories Limited has a 52-week low of $13.36 and a 52-week high of $16.89. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. Dr. Reddy's Laboratories had a net margin of 17.25% and a return on equity of 17.87%. As a group, research analysts predict that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current year.
Wall Street Analyst Weigh In
RDY has been the topic of several research analyst reports. Barclays lowered their target price on shares of Dr. Reddy's Laboratories from $17.40 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th. StockNews.com cut shares of Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a report on Friday, December 6th. Finally, Nomura lowered shares of Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research note on Thursday, December 19th.
Get Our Latest Report on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Company Profile
(
Free Report)
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.
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