Artemis Investment Management LLP Increases Position in Dr. Reddy's Laboratories Limited (NYSE:RDY)

Artemis Investment Management LLP increased its stake in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 280.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,306 shares of the company's stock after acquiring an additional 43,706 shares during the period. Artemis Investment Management LLP's holdings in Dr. Reddy's Laboratories were worth $4,712,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Dr. Reddy's Laboratories by 54.7% during the 1st quarter. GAMMA Investing LLC now owns 721 shares of the company's stock valued at $53,000 after purchasing an additional 255 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Dr. Reddy's Laboratories in the first quarter valued at $189,000. CWM LLC lifted its holdings in shares of Dr. Reddy's Laboratories by 18.9% in the 1st quarter. CWM LLC now owns 2,584 shares of the company's stock worth $190,000 after acquiring an additional 410 shares during the last quarter. Wealthstream Advisors Inc. bought a new stake in shares of Dr. Reddy's Laboratories in the 2nd quarter worth about $203,000. Finally, Legacy Capital Group California Inc. purchased a new position in shares of Dr. Reddy's Laboratories during the 2nd quarter worth about $204,000. 14.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their price objective on shares of Dr. Reddy's Laboratories from $81.00 to $87.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th.

Dr. Reddy's Laboratories Trading Down 1.9 %

RDY stock traded down $1.50 during trading on Thursday, hitting $77.26. The company had a trading volume of 204,392 shares, compared to its average volume of 213,593. Dr. Reddy's Laboratories Limited has a 52-week low of $63.72 and a 52-week high of $84.46. The company has a 50 day simple moving average of $80.91 and a 200-day simple moving average of $76.10. The firm has a market capitalization of $12.89 billion, a P/E ratio of 19.13, a PEG ratio of 1.75 and a beta of 0.55. The company has a quick ratio of 1.90, a current ratio of 2.55 and a debt-to-equity ratio of 0.02.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its earnings results on Saturday, July 27th. The company reported $1.00 EPS for the quarter, missing analysts' consensus estimates of $1.10 by ($0.10). Dr. Reddy's Laboratories had a return on equity of 20.32% and a net margin of 19.28%. The company had revenue of $919.80 million for the quarter, compared to analysts' expectations of $861.68 million. As a group, research analysts forecast that Dr. Reddy's Laboratories Limited will post 4.11 earnings per share for the current fiscal 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.