Dr. Reddy’s Laboratories Limited (NYSE:RDY) Shares Purchased by Assetmark Inc.

Assetmark Inc. lifted its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 443.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 204,715 shares of the company’s stock after acquiring an additional 167,049 shares during the quarter. Assetmark Inc.’s holdings in Dr. Reddy’s Laboratories were worth $3,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RDY. Farther Finance Advisors LLC increased 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 during the period. Van ECK Associates Corp grew its position in Dr. Reddy’s Laboratories by 64.3% during the third 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 period. QRG Capital Management Inc. grew its position in Dr. Reddy’s Laboratories by 19.5% during the third quarter. QRG Capital Management Inc. now owns 9,454 shares of the company’s stock valued at $751,000 after buying an additional 1,544 shares during the period. Venturi Wealth Management LLC acquired a new stake in Dr. Reddy’s Laboratories during the third quarter valued at $60,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in Dr. Reddy’s Laboratories during the third quarter valued at $277,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Stock Performance

RDY opened at $12.93 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The company has a market cap of $10.79 billion, a price-to-earnings ratio of 20.59 and a beta of 0.48. Dr. Reddy’s Laboratories Limited has a 52-week low of $12.62 and a 52-week high of $16.89. The firm’s fifty day simple moving average is $14.18 and its two-hundred day simple moving average is $14.92.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 earnings per share (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 analysts anticipate that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.