Legacy Capital Group California Inc. Raises Stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Legacy Capital Group California Inc. lifted its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 404.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,741 shares of the company’s stock after purchasing an additional 11,015 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Dr. Reddy’s Laboratories were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RDY. Farther Finance Advisors LLC increased its stake in Dr. Reddy’s Laboratories by 43.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock worth $36,000 after buying an additional 137 shares in the last quarter. POM Investment Strategies LLC grew 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 purchasing an additional 1,820 shares in the last quarter. Allworth Financial LP raised its stake in Dr. Reddy’s Laboratories by 447.8% during the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock valued at $41,000 after purchasing an additional 2,230 shares during the period. Sierra Ocean LLC bought a new stake in Dr. Reddy’s Laboratories during the 4th quarter valued at approximately $43,000. Finally, Independence Bank of Kentucky lifted its holdings in Dr. Reddy’s Laboratories by 400.0% in the 4th quarter. Independence Bank of Kentucky now owns 2,775 shares of the company’s stock worth $44,000 after purchasing an additional 2,220 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Stock Down 0.8 %

Shares of RDY opened at $13.34 on Friday. The business’s 50 day simple moving average is $14.63 and its 200-day simple moving average is $15.20. Dr. Reddy’s Laboratories Limited has a 1 year low of $13.16 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 stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 21.23 and a beta of 0.50.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.25% and a return on equity of 17.87%. As a group, equities analysts expect that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on RDY. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research 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. Finally, Barclays decreased their price target on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th.

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.