Drive Wealth Management LLC Has $212,000 Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Drive Wealth Management LLC lifted its stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 391.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,451 shares of the company’s stock after acquiring an additional 10,714 shares during the quarter. Drive Wealth Management LLC’s holdings in Dr. Reddy’s Laboratories were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. DGS Capital Management LLC increased its stake in shares of Dr. Reddy’s Laboratories by 528.2% in the fourth quarter. DGS Capital Management LLC now owns 74,993 shares of the company’s stock worth $1,184,000 after acquiring an additional 63,056 shares during the last quarter. Lifestyle Asset Management Inc. increased its stake in shares of Dr. Reddy’s Laboratories by 422.2% in the fourth quarter. Lifestyle Asset Management Inc. now owns 71,488 shares of the company’s stock worth $1,129,000 after acquiring an additional 57,799 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Dr. Reddy’s Laboratories in the fourth quarter worth $145,000. Simon Quick Advisors LLC acquired a new position in shares of Dr. Reddy’s Laboratories in the fourth quarter worth $224,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Dr. Reddy’s Laboratories in the fourth quarter worth $162,000. 3.85% of the stock is owned by institutional investors and hedge funds.

Dr. Reddy’s Laboratories Trading Down 2.5 %

Shares of NYSE:RDY opened at $13.66 on Tuesday. The stock has a market capitalization of $11.40 billion, a PE ratio of 21.81 and a beta of 0.51. Dr. Reddy’s Laboratories Limited has a 1 year low of $13.59 and a 1 year high of $16.89. The firm has a fifty day moving average price of $14.86 and a 200 day moving average price of $15.50. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.81% and a return on equity of 18.53%. Analysts expect that Dr. Reddy’s Laboratories Limited will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RDY shares. Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Barclays decreased 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 report on Wednesday, November 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.