Bank of New York Mellon Corp Boosts Stock Holdings in Dr. Reddy's Laboratories Limited (NYSE:RDY)

Bank of New York Mellon Corp lifted its holdings in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 271.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,006 shares of the company's stock after acquiring an additional 59,930 shares during the period. Bank of New York Mellon Corp's holdings in Dr. Reddy's Laboratories were worth $1,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RDY. POM Investment Strategies LLC increased its holdings in Dr. Reddy's Laboratories by 400.0% during the 4th quarter. POM Investment Strategies LLC now owns 2,275 shares of the company's stock worth $36,000 after purchasing an additional 1,820 shares in the last quarter. Allworth Financial LP lifted its stake 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 valued at $41,000 after acquiring an additional 2,230 shares in the last quarter. Sierra Ocean LLC purchased a new position in Dr. Reddy's Laboratories during the 4th quarter worth $43,000. Independence Bank of Kentucky grew its stake in shares of Dr. Reddy's Laboratories by 400.0% in the 4th quarter. Independence Bank of Kentucky now owns 2,775 shares of the company's stock worth $44,000 after acquiring an additional 2,220 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Dr. Reddy's Laboratories by 609.4% in the fourth quarter. Van ECK Associates Corp now owns 5,838 shares of the company's stock valued at $92,000 after purchasing an additional 5,015 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Remove Ads

Dr. Reddy's Laboratories Stock Performance

Shares of NYSE RDY traded down $0.01 during mid-day trading on Thursday, reaching $13.28. 3,053,379 shares of the company's stock were exchanged, compared to its average volume of 1,955,967. The firm has a 50-day moving average price of $13.55 and a two-hundred day moving average price of $14.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 21.14 and a beta of 0.48. Dr. Reddy's Laboratories Limited has a 52 week low of $12.50 and a 52 week high of $16.89.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings data 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 net margin of 17.25% and a return on equity of 17.87%. Analysts predict that Dr. Reddy's Laboratories Limited will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

RDY has been the subject of a number of recent analyst reports. Nomura downgraded shares of Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research report on Thursday, December 19th. StockNews.com downgraded Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, December 6th.

Dr. Reddy's Laboratories 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.