PNC Financial Services Group Inc. raised its stake in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 404.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,644 shares of the company's stock after acquiring an additional 30,990 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Dr. Reddy's Laboratories were worth $610,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its stake in Dr. Reddy's Laboratories by 453.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company's stock valued at $180,620,000 after purchasing an additional 9,373,412 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Dr. Reddy's Laboratories by 402.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,468,722 shares of the company's stock worth $38,981,000 after buying an additional 1,977,419 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Dr. Reddy's Laboratories by 400.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company's stock valued at $8,373,000 after purchasing an additional 427,573 shares during the last quarter. Rhumbline Advisers boosted its holdings in Dr. Reddy's Laboratories by 458.0% in the fourth quarter. Rhumbline Advisers now owns 430,062 shares of the company's stock valued at $6,791,000 after purchasing an additional 352,994 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in Dr. Reddy's Laboratories by 398.3% in the fourth quarter. Artemis Investment Management LLP now owns 295,530 shares of the company's stock valued at $4,666,000 after purchasing an additional 236,224 shares during the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
RDY has been the topic of several research reports. StockNews.com cut Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Nomura cut Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research report on Thursday, December 19th.
Check Out Our Latest Report on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Price Performance
NYSE RDY traded up $0.15 on Friday, reaching $13.73. 1,569,630 shares of the stock traded hands, compared to its average volume of 1,262,059. The firm's fifty day simple moving average is $13.66 and its 200 day simple moving average is $14.71. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 21.86 and a beta of 0.48. Dr. Reddy's Laboratories Limited has a 12 month low of $12.50 and a 12 month high of $16.89.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 earnings per share 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%. As a group, research analysts predict that Dr. Reddy's Laboratories Limited will post 0.8 EPS for the current fiscal year.
Dr. Reddy's Laboratories Company Profile
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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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