Smith Group Asset Management LLC Invests $685,000 in Dr. Reddy's Laboratories Limited (NYSE:RDY)

Smith Group Asset Management LLC acquired a new position in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 43,400 shares of the company's stock, valued at approximately $685,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RDY. Robeco Institutional Asset Management B.V. increased its stake in shares of Dr. Reddy's Laboratories by 453.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company's stock worth $180,620,000 after acquiring an additional 9,373,412 shares in the last quarter. Foster Group Inc. purchased a new stake in Dr. Reddy's Laboratories in the fourth quarter worth about $216,000. Blue Trust Inc. lifted its holdings in shares of Dr. Reddy's Laboratories by 46.3% during the fourth quarter. Blue Trust Inc. now owns 18,210 shares of the company's stock valued at $288,000 after purchasing an additional 5,763 shares during the last quarter. Drive Wealth Management LLC boosted its position in shares of Dr. Reddy's Laboratories by 391.5% in the 4th quarter. Drive Wealth Management LLC now owns 13,451 shares of the company's stock worth $212,000 after purchasing an additional 10,714 shares in the last quarter. Finally, DGS Capital Management LLC grew its stake in shares of Dr. Reddy's Laboratories by 528.2% in the 4th quarter. DGS Capital Management LLC now owns 74,993 shares of the company's stock worth $1,184,000 after buying an additional 63,056 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Dr. Reddy's Laboratories Stock Up 0.2 %

NYSE RDY traded up $0.03 during mid-day trading on Friday, reaching $13.84. The stock had a trading volume of 2,193,546 shares, compared to its average volume of 1,944,099. The stock has a market cap of $11.55 billion, a PE ratio of 22.03 and a beta of 0.51. Dr. Reddy's Laboratories Limited has a 1 year low of $13.36 and a 1 year high of $16.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38. The company has a fifty day moving average price of $14.81 and a 200 day moving average price of $15.44.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. On average, research analysts expect that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RDY shares. Nomura cut Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research note on Thursday, December 19th. Barclays lowered their price target on Dr. Reddy's Laboratories from $17.40 to $17.00 and set an "overweight" rating for the company in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, December 6th.

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.