Pinpoint Asset Management Ltd Acquires 473,000 Shares of Dr. Reddy's Laboratories Limited (NYSE:RDY)

Pinpoint Asset Management Ltd increased its position in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 12,206.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 476,875 shares of the company's stock after purchasing an additional 473,000 shares during the period. Dr. Reddy's Laboratories accounts for 1.4% of Pinpoint Asset Management Ltd's portfolio, making the stock its 18th biggest position. Pinpoint Asset Management Ltd owned approximately 0.06% of Dr. Reddy's Laboratories worth $7,530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RDY. EverSource Wealth Advisors LLC raised its stake in Dr. Reddy's Laboratories by 423.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock valued at $29,000 after buying an additional 1,507 shares during the last quarter. POM Investment Strategies LLC boosted its stake in Dr. Reddy's Laboratories by 400.0% in 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. Farther Finance Advisors LLC grew its position in Dr. Reddy's Laboratories by 461.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock valued at $40,000 after purchasing an additional 2,093 shares during the last quarter. Allworth Financial LP increased 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 purchasing an additional 2,230 shares in the last quarter. Finally, Sierra Ocean LLC bought a new position in shares of Dr. Reddy's Laboratories in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 3.85% of the company's stock.

Analysts Set New Price Targets

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

Dr. Reddy's Laboratories Stock Performance

Shares of NYSE RDY traded down $0.10 during trading on Wednesday, reaching $12.34. 1,309,763 shares of the company traded hands, compared to its average volume of 1,370,261. The stock has a market capitalization of $10.30 billion, a PE ratio of 19.64 and a beta of 0.51. The firm has a 50 day simple moving average of $13.26 and a 200-day simple moving average of $14.43. Dr. Reddy's Laboratories Limited has a 52-week low of $12.18 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 announced its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share for the quarter, beating 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%. Equities research analysts anticipate that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current year.

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.