Van ECK Associates Corp Acquires 5,015 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Van ECK Associates Corp raised its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 609.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,838 shares of the company’s stock after acquiring an additional 5,015 shares during the period. Van ECK Associates Corp’s holdings in Dr. Reddy’s Laboratories were worth $92,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Dr. Reddy’s Laboratories by 400.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company’s stock valued at $8,373,000 after buying an additional 427,573 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its holdings in Dr. Reddy’s Laboratories by 465.6% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 37,423 shares of the company’s stock worth $590,000 after buying an additional 30,806 shares during the period. Augustine Asset Management Inc. increased its holdings in Dr. Reddy’s Laboratories by 392.6% in the 4th quarter. Augustine Asset Management Inc. now owns 249,744 shares of the company’s stock worth $3,943,000 after buying an additional 199,044 shares during the period. POM Investment Strategies LLC increased its holdings in Dr. Reddy’s Laboratories by 400.0% in the 4th quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock worth $36,000 after buying an additional 1,820 shares during the period. Finally, XY Capital Ltd acquired a new stake in shares of Dr. Reddy’s Laboratories during the 4th quarter worth approximately $1,061,000. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Trading Down 0.8 %

Shares of RDY stock opened at $13.34 on Monday. The stock’s fifty day moving average is $14.63 and its two-hundred day moving average is $15.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92. The firm has a market capitalization of $11.13 billion, a P/E ratio of 21.23 and a beta of 0.50. Dr. Reddy’s Laboratories Limited has a fifty-two week low of $13.16 and a fifty-two week high of $16.89.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays dropped their price objective on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Nomura lowered Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, December 19th. Finally, StockNews.com lowered Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th.

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.