Dr. Reddy's Laboratories Limited (NYSE:RDY) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management grew its holdings in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 362.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 80,595 shares of the company's stock after buying an additional 63,180 shares during the period. Ritholtz Wealth Management's holdings in Dr. Reddy's Laboratories were worth $1,273,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. World Investment Advisors LLC acquired a new position in Dr. Reddy's Laboratories in the 3rd quarter valued at $3,459,000. Nordea Investment Management AB increased its stake in shares of Dr. Reddy's Laboratories by 441.8% during the fourth quarter. Nordea Investment Management AB now owns 125,363 shares of the company's stock worth $1,992,000 after acquiring an additional 102,226 shares during the period. Frank Rimerman Advisors LLC purchased a new position in Dr. Reddy's Laboratories during the second quarter worth about $2,633,000. GAMMA Investing LLC lifted its position in Dr. Reddy's Laboratories by 369.9% in the fourth quarter. GAMMA Investing LLC now owns 6,799 shares of the company's stock valued at $107,000 after purchasing an additional 5,352 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Dr. Reddy's Laboratories by 109.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,254 shares of the company's stock valued at $1,053,000 after purchasing an additional 6,920 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Wall Street Analyst Weigh In

RDY has been the subject of a number of analyst reports. Nomura downgraded Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research note on Thursday, December 19th. StockNews.com cut Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Finally, Barclays decreased their target price on shares of Dr. Reddy's Laboratories from $17.40 to $17.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 6th.

Dr. Reddy's Laboratories Price Performance

Shares of RDY stock traded up $0.08 during midday trading on Friday, reaching $14.91. 2,028,244 shares of the company traded hands, compared to its average volume of 1,369,127. The firm's 50 day simple moving average is $14.86 and its two-hundred day simple moving average is $15.55. The firm has a market cap of $12.44 billion, a PE ratio of 23.82 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.36. Dr. Reddy's Laboratories Limited has a 1-year low of $13.47 and a 1-year high of $16.89.

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.