Migdal Insurance & Financial Holdings Ltd. Grows Holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Migdal Insurance & Financial Holdings Ltd. boosted its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 217.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the company’s stock after buying an additional 68,500 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Dr. Reddy’s Laboratories were worth $1,571,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RDY. Farther Finance Advisors LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock worth $36,000 after acquiring an additional 137 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of 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 valued at $44,000 after purchasing an additional 2,220 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Dr. Reddy’s Laboratories during the 3rd quarter valued at approximately $60,000. Van ECK Associates Corp boosted its stake in shares of Dr. Reddy’s Laboratories by 64.3% during the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after buying an additional 322 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Dr. Reddy’s Laboratories by 369.9% during the fourth quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock worth $107,000 after buying an additional 5,352 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY opened at $13.95 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38. Dr. Reddy’s Laboratories Limited has a 12-month low of $13.36 and a 12-month high of $16.89. The business’s fifty day moving average price is $14.79 and its 200 day moving average price is $15.39. The stock has a market capitalization of $11.64 billion, a PE ratio of 22.21 and a beta of 0.50.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results 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%. Equities research analysts forecast that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

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.