172,283 Shares in Dr. Reddy's Laboratories Limited (NYSE:RDY) Purchased by Prudential PLC

Prudential PLC acquired a new position in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 172,283 shares of the company's stock, valued at approximately $2,707,000.

Several other hedge funds have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in Dr. Reddy's Laboratories by 423.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock valued at $29,000 after acquiring an additional 1,507 shares in the last quarter. POM Investment Strategies LLC boosted its stake in shares of 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 valued at $36,000 after purchasing an additional 1,820 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Dr. Reddy's Laboratories by 461.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock valued at $40,000 after buying an additional 2,093 shares during the period. Allworth Financial LP raised its stake in Dr. Reddy's Laboratories by 447.8% in the fourth quarter. Allworth Financial LP now owns 2,728 shares of the company's stock worth $41,000 after buying an additional 2,230 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Dr. Reddy's Laboratories in the fourth quarter worth about $43,000. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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 Up 4.0 %

Dr. Reddy's Laboratories stock traded up $0.51 on Friday, hitting $13.22. 2,756,790 shares of the stock traded hands, compared to its average volume of 1,402,091. The business's fifty day simple moving average is $13.20 and its 200 day simple moving average is $14.36. The firm has a market cap of $11.03 billion, a P/E 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. Dr. Reddy's Laboratories Limited has a 1 year low of $12.26 and a 1 year high of $16.89.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted 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%. As a group, sell-side analysts forecast that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current year.

About Dr. Reddy's Laboratories

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.