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

Contravisory Investment Management Inc. raised its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 404.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,886 shares of the company’s stock after purchasing an additional 11,131 shares during the period. Contravisory Investment Management Inc.’s holdings in Dr. Reddy’s Laboratories were worth $219,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. American Century Companies Inc. increased its stake in Dr. Reddy’s Laboratories by 8.0% in the second quarter. American Century Companies Inc. now owns 146,823 shares of the company’s stock valued at $11,186,000 after purchasing an additional 10,855 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Dr. Reddy’s Laboratories by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock worth $76,455,000 after acquiring an additional 114,294 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Dr. Reddy’s Laboratories by 6.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,945 shares of the company’s stock worth $377,000 after purchasing an additional 316 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Dr. Reddy’s Laboratories by 16.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,206 shares of the company’s stock worth $2,759,000 after purchasing an additional 5,170 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Dr. Reddy’s Laboratories during the 2nd quarter valued at $557,000. 3.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Dr. Reddy’s Laboratories Stock Down 3.3 %

Shares of NYSE:RDY opened at $14.81 on Friday. Dr. Reddy’s Laboratories Limited has a 12-month low of $13.43 and a 12-month high of $16.89. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02. The firm has a market cap of $12.36 billion, a PE ratio of 23.66 and a beta of 0.51. The company has a fifty day simple moving average of $14.86 and a 200 day simple moving average of $15.55.

Dr. Reddy’s Laboratories 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.