Dr. Reddy’s Laboratories Limited (NYSE:RDY) Shares Bought by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management grew its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 400.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,170 shares of the company’s stock after purchasing an additional 18,536 shares during the period. Hanson & Doremus Investment Management’s holdings in Dr. Reddy’s Laboratories were worth $366,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its holdings in Dr. Reddy’s Laboratories by 453.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock worth $180,620,000 after buying an additional 9,373,412 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Dr. Reddy’s Laboratories by 318.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company’s stock worth $28,411,000 after acquiring an additional 283,700 shares during the period. Artemis Investment Management LLP raised its holdings in shares of Dr. Reddy’s Laboratories by 398.3% during the fourth quarter. Artemis Investment Management LLP now owns 295,530 shares of the company’s stock worth $4,666,000 after purchasing an additional 236,224 shares during the last quarter. Fisher Asset Management LLC lifted its position in Dr. Reddy’s Laboratories by 59.4% during the third quarter. Fisher Asset Management LLC now owns 491,303 shares of the company’s stock valued at $39,034,000 after purchasing an additional 183,146 shares during the period. Finally, Millennium Management LLC boosted its holdings in Dr. Reddy’s Laboratories by 61.4% in the second quarter. Millennium Management LLC now owns 332,502 shares of the company’s stock valued at $25,333,000 after purchasing an additional 126,472 shares during the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com cut Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Barclays decreased their price target on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Finally, Nomura lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, December 19th.

Dr. Reddy’s Laboratories Trading Up 0.1 %

RDY stock opened at $13.55 on Thursday. Dr. Reddy’s Laboratories Limited has a 52-week low of $13.36 and a 52-week high of $16.89. The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The firm has a market cap of $11.31 billion, a P/E ratio of 21.64 and a beta of 0.51. The company’s 50-day simple moving average is $14.82 and its 200-day simple moving average is $15.47.

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 18.53% and a net margin of 17.81%. As a group, equities analysts forecast that Dr. Reddy’s Laboratories Limited will post 0.81 EPS for the current fiscal 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.