Smith Group Asset Management LLC Takes Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Smith Group Asset Management LLC purchased a new position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 43,400 shares of the company’s stock, valued at approximately $685,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of 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. Foster Group Inc. acquired a new stake in shares of Dr. Reddy’s Laboratories during the fourth quarter worth $216,000. Blue Trust Inc. raised its holdings in Dr. Reddy’s Laboratories by 46.3% during the 4th quarter. Blue Trust Inc. now owns 18,210 shares of the company’s stock worth $288,000 after buying an additional 5,763 shares during the period. Drive Wealth Management LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 391.5% during the fourth quarter. Drive Wealth Management LLC now owns 13,451 shares of the company’s stock valued at $212,000 after acquiring an additional 10,714 shares during the period. Finally, DGS Capital Management LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 528.2% in the fourth quarter. DGS Capital Management LLC now owns 74,993 shares of the company’s stock valued at $1,184,000 after purchasing an additional 63,056 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Price Performance

Shares of Dr. Reddy’s Laboratories stock opened at $13.52 on Wednesday. Dr. Reddy’s Laboratories Limited has a fifty-two week low of $13.36 and a fifty-two week high of $16.89. The company has a market cap of $11.29 billion, a PE ratio of 21.60 and a beta of 0.51. The firm has a fifty day moving average price of $14.84 and a two-hundred day moving average price of $15.49. 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 (NYSE:RDY) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.81% and a return on equity of 18.53%. Analysts expect that Dr. Reddy’s Laboratories Limited will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RDY shares. Barclays reduced their price target on shares of 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. Nomura lowered Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, December 19th. Finally, StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th.

Dr. Reddy’s Laboratories Company 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.