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

Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 217.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,000 shares of the company’s stock after purchasing 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in Dr. Reddy’s Laboratories by 43.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock worth $36,000 after buying an additional 137 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of Dr. Reddy’s Laboratories by 400.0% in the fourth quarter. Independence Bank of Kentucky now owns 2,775 shares of the company’s stock worth $44,000 after acquiring an additional 2,220 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Dr. Reddy’s Laboratories in the third quarter worth approximately $60,000. Van ECK Associates Corp increased 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 worth $64,000 after purchasing an additional 322 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in 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 purchasing an additional 5,352 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analysts Set New Price Targets

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

Dr. Reddy’s Laboratories Price Performance

Dr. Reddy’s Laboratories stock opened at $13.95 on Friday. The firm has a fifty day moving average of $14.79 and a 200-day moving average of $15.39. 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 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $11.64 billion, a P/E ratio of 22.21 and a beta of 0.50.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data 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 return on equity of 17.87% and a net margin of 17.25%. As a group, analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

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.