JPMorgan Chase & Co. Acquires 2,313,987 Shares of Dr. Reddy's Laboratories Limited (NYSE:RDY)

JPMorgan Chase & Co. raised its position in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 462.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,814,710 shares of the company's stock after purchasing an additional 2,313,987 shares during the quarter. JPMorgan Chase & Co. owned 0.34% of Dr. Reddy's Laboratories worth $44,444,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Quantinno Capital Management LP increased its position in shares of Dr. Reddy's Laboratories by 18.0% during the third quarter. Quantinno Capital Management LP now owns 20,237 shares of the company's stock valued at $1,608,000 after acquiring an additional 3,094 shares in the last quarter. State Street Corp boosted its stake in Dr. Reddy's Laboratories by 1.9% during the 3rd quarter. State Street Corp now owns 909,905 shares of the company's stock valued at $72,292,000 after purchasing an additional 16,641 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Dr. Reddy's Laboratories by 43.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 20,524 shares of the company's stock worth $1,631,000 after purchasing an additional 6,192 shares in the last quarter. EWA LLC purchased a new position in shares of Dr. Reddy's Laboratories in the third quarter worth $899,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Dr. Reddy's Laboratories during the third quarter valued at $464,000. 3.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Dr. Reddy's Laboratories Stock Performance

NYSE:RDY traded up $0.51 during trading hours on Friday, reaching $13.22. The company had a trading volume of 2,756,790 shares, compared to its average volume of 1,402,091. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 21.04 and a beta of 0.51. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. The firm's 50 day moving average price is $13.20 and its 200-day moving average price is $14.36. Dr. Reddy's Laboratories Limited has a 52 week low of $12.26 and a 52 week high of $16.89.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued 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 return on equity of 17.87% and a net margin of 17.25%. On average, analysts forecast that Dr. Reddy's Laboratories Limited will post 0.8 EPS for the current year.

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.