Avantax Advisory Services Inc. Increases Stock Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Avantax Advisory Services Inc. lifted its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 396.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,935 shares of the company’s stock after buying an additional 90,193 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Dr. Reddy’s Laboratories were worth $1,783,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RDY. Farther Finance Advisors LLC grew its holdings in Dr. Reddy’s Laboratories by 461.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock worth $40,000 after purchasing an additional 2,093 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of 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 worth $29,000 after buying an additional 1,507 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Dr. Reddy’s Laboratories by 432.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 83,229 shares of the company’s stock valued at $1,314,000 after buying an additional 67,586 shares in the last quarter. HighTower Advisors LLC purchased a new position in Dr. Reddy’s Laboratories during the fourth quarter valued at $472,000. Finally, Johnson Investment Counsel Inc. boosted its holdings in Dr. Reddy’s Laboratories by 400.0% in the fourth quarter. Johnson Investment Counsel Inc. now owns 24,760 shares of the company’s stock worth $391,000 after acquiring an additional 19,808 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RDY shares. Nomura lowered Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th.

Dr. Reddy’s Laboratories Stock Up 4.3 %

Dr. Reddy’s Laboratories stock opened at $13.23 on Tuesday. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of 21.06 and a beta of 0.48. 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 Limited has a 12 month low of $12.50 and a 12 month high of $16.89. The stock has a fifty day simple moving average of $13.83 and a two-hundred day simple moving average of $14.77.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its 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 return on equity of 17.87% and a net margin of 17.25%. Equities analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current fiscal year.

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.