Summit Global Investments raised its position in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 404.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 141,902 shares of the company's stock after acquiring an additional 113,785 shares during the period. Summit Global Investments' holdings in Dr. Reddy's Laboratories were worth $2,241,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of RDY. EverSource Wealth Advisors LLC grew its position in Dr. Reddy's Laboratories by 423.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock valued at $29,000 after purchasing an additional 1,507 shares during the period. POM Investment Strategies LLC increased its position in shares of Dr. Reddy's Laboratories by 400.0% during the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company's stock worth $36,000 after acquiring an additional 1,820 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Dr. Reddy's Laboratories by 461.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock worth $40,000 after acquiring an additional 2,093 shares during the last quarter. Allworth Financial LP lifted its position in Dr. Reddy's Laboratories by 447.8% in the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company's stock valued at $41,000 after acquiring an additional 2,230 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new position in Dr. Reddy's Laboratories during the 4th quarter valued at about $43,000. Institutional investors own 3.85% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on RDY. StockNews.com lowered Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a report on Friday, December 6th. Nomura downgraded shares of Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a report on Thursday, December 19th.
View Our Latest Report on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Stock Down 0.1 %
NYSE:RDY traded down $0.01 on Thursday, hitting $13.28. The stock had a trading volume of 3,053,379 shares, compared to its average volume of 1,289,275. Dr. Reddy's Laboratories Limited has a 1 year low of $12.50 and a 1 year high of $16.89. The firm's fifty day simple moving average is $13.55 and its two-hundred day simple moving average is $14.64. The stock has a market cap of $11.08 billion, a P/E ratio of 21.14 and a beta of 0.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 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%. Analysts predict that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current 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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