Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 382.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,666 shares of the company’s stock after acquiring an additional 14,800 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Dr. Reddy’s Laboratories were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its position in shares of Dr. Reddy’s Laboratories by 453.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock worth $180,620,000 after purchasing an additional 9,373,412 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Dr. Reddy’s Laboratories in the 3rd quarter worth $3,459,000. Crossmark Global Holdings Inc. raised its position in shares of Dr. Reddy’s Laboratories by 328.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 12,760 shares of the company’s stock valued at $201,000 after buying an additional 9,781 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Dr. Reddy’s Laboratories by 441.8% during the 4th quarter. Nordea Investment Management AB now owns 125,363 shares of the company’s stock worth $1,992,000 after acquiring an additional 102,226 shares during the last quarter. Finally, Atomi Financial Group Inc. purchased a new position in Dr. Reddy’s Laboratories in the fourth quarter worth $162,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Stock Up 1.6 %

Shares of NYSE:RDY opened at $14.02 on Friday. The stock has a market capitalization of $11.70 billion, a P/E ratio of 22.32 and a beta of 0.50. The stock’s 50-day moving average price is $14.75 and its 200-day moving average price is $15.32. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories Limited has a 12-month low of $13.36 and a 12-month high of $16.89.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share 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%. On average, equities analysts anticipate that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.