QRG Capital Management Inc. increased its stake in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 379.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,283 shares of the company's stock after purchasing an additional 35,829 shares during the period. QRG Capital Management Inc.'s holdings in Dr. Reddy's Laboratories were worth $715,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in RDY. Robeco Institutional Asset Management B.V. raised its stake in Dr. Reddy's Laboratories by 453.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company's stock valued at $180,620,000 after acquiring an additional 9,373,412 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Dr. Reddy's Laboratories by 400.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company's stock valued at $8,373,000 after acquiring an additional 427,573 shares in the last quarter. Rhumbline Advisers raised its stake in Dr. Reddy's Laboratories by 458.0% during the 4th quarter. Rhumbline Advisers now owns 430,062 shares of the company's stock valued at $6,791,000 after acquiring an additional 352,994 shares in the last quarter. Artemis Investment Management LLP raised its stake in Dr. Reddy's Laboratories by 398.3% during the 4th quarter. Artemis Investment Management LLP now owns 295,530 shares of the company's stock valued at $4,666,000 after acquiring an additional 236,224 shares in the last quarter. Finally, Augustine Asset Management Inc. raised its stake in Dr. Reddy's Laboratories by 392.6% during the 4th quarter. Augustine Asset Management Inc. now owns 249,744 shares of the company's stock valued at $3,943,000 after acquiring an additional 199,044 shares in the last quarter. Institutional investors own 3.85% of the company's stock.
Analysts Set New Price Targets
Several analysts have weighed in on RDY shares. Nomura downgraded Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research note on Thursday, December 19th. StockNews.com lowered Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a report on Friday, December 6th.
Read Our Latest Analysis on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Price Performance
NYSE:RDY traded down $0.06 during trading hours on Friday, reaching $12.93. 1,518,509 shares of the company's stock were exchanged, compared to its average volume of 1,234,464. 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 capitalization of $10.79 billion, a P/E ratio of 20.59 and a beta of 0.48. Dr. Reddy's Laboratories Limited has a 12 month low of $12.62 and a 12 month high of $16.89. The business's 50-day simple moving average is $14.23 and its two-hundred day simple moving average is $14.98.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Dr. Reddy's Laboratories Limited will post 0.8 EPS for the current fiscal year.
Dr. Reddy's Laboratories 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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