AIA Group Ltd Raises Stock Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

AIA Group Ltd raised its stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 441.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 145,150 shares of the company’s stock after buying an additional 118,357 shares during the quarter. AIA Group Ltd’s holdings in Dr. Reddy’s Laboratories were worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in Dr. Reddy’s Laboratories by 423.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $29,000 after acquiring an additional 1,507 shares during the period. POM Investment Strategies LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 400.0% in the 4th 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 during the period. Farther Finance Advisors LLC boosted its holdings in shares of 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 buying an additional 2,093 shares during the last quarter. Allworth Financial LP grew its position in Dr. Reddy’s Laboratories by 447.8% during the fourth quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock valued at $41,000 after buying an additional 2,230 shares during the period. Finally, Sierra Ocean LLC purchased a new stake in Dr. Reddy’s Laboratories during the fourth quarter valued at approximately $43,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Stock Performance

RDY opened at $13.19 on Tuesday. The firm has a market cap of $11.01 billion, a P/E ratio of 21.00 and a beta of 0.48. Dr. Reddy’s Laboratories Limited has a 1-year low of $12.50 and a 1-year high of $16.89. The company has a 50 day simple moving average of $13.45 and a two-hundred day simple moving average of $14.58. 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 (NYSE:RDY) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) 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 forecast that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. 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 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.