US Bancorp DE raised its stake in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 552.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,301 shares of the company's stock after purchasing an additional 193,288 shares during the period. US Bancorp DE's holdings in Dr. Reddy's Laboratories were worth $3,605,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. boosted its position in shares of Dr. Reddy's Laboratories by 453.8% in the fourth 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 during the period. Fisher Asset Management LLC boosted its position in shares of Dr. Reddy's Laboratories by 402.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,468,722 shares of the company's stock valued at $38,981,000 after acquiring an additional 1,977,419 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Dr. Reddy's Laboratories by 400.6% in the fourth 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 during the period. Rhumbline Advisers lifted its position in Dr. Reddy's Laboratories by 458.0% in the fourth quarter. Rhumbline Advisers now owns 430,062 shares of the company's stock worth $6,791,000 after purchasing an additional 352,994 shares during the period. Finally, Artemis Investment Management LLP lifted its position in Dr. Reddy's Laboratories by 398.3% in the fourth quarter. Artemis Investment Management LLP now owns 295,530 shares of the company's stock worth $4,666,000 after purchasing an additional 236,224 shares during the period. Institutional investors and hedge funds own 3.85% of the company's stock.
Analyst Ratings Changes
RDY has been the subject of several research reports. StockNews.com cut Dr. Reddy's Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Nomura cut Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research report on Thursday, December 19th.
Get Our Latest Research Report on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Stock Performance
RDY stock traded down $0.06 during midday trading on Friday, hitting $12.93. The stock had a trading volume of 1,518,509 shares, compared to its average volume of 1,236,898. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 20.59 and a beta of 0.48. The stock has a 50-day simple moving average of $14.18 and a 200 day simple moving average of $14.94. Dr. Reddy's Laboratories Limited has a 52 week low of $12.62 and a 52 week high of $16.89. 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 (NYSE:RDY - Get Free Report) last issued its quarterly earnings data 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%. As a group, equities research analysts anticipate 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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