Bank of America Corp DE raised its holdings in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 123.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,916,425 shares of the company's stock after buying an additional 1,057,584 shares during the period. Bank of America Corp DE owned about 0.23% of Dr. Reddy's Laboratories worth $30,260,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in RDY. Robeco Institutional Asset Management B.V. lifted its stake 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 valued at $180,620,000 after buying an additional 9,373,412 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Dr. Reddy's Laboratories by 382.9% in the fourth quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company's stock valued at $148,717,000 after buying an additional 7,467,979 shares in the last quarter. Aikya Investment Management Ltd lifted its stake in shares of Dr. Reddy's Laboratories by 416.1% in the fourth quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company's stock valued at $88,590,000 after buying an additional 4,523,303 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Dr. Reddy's Laboratories by 405.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock valued at $84,643,000 after buying an additional 4,301,212 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Dr. Reddy's Laboratories by 397.2% in the fourth quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock valued at $77,311,000 after buying an additional 3,911,404 shares in the last quarter. 3.85% of the stock is owned by institutional investors.
Dr. Reddy's Laboratories Stock Up 0.3%
RDY opened at $14.44 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38. The company's 50-day moving average is $13.43 and its 200 day moving average is $14.04. Dr. Reddy's Laboratories Limited has a fifty-two week low of $12.26 and a fifty-two week high of $16.89. The firm has a market capitalization of $12.05 billion, a P/E ratio of 22.99 and a beta of 0.33.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. Dr. Reddy's Laboratories had a net margin of 17.25% and a return on equity of 17.87%. The company had revenue of $996.17 million for the quarter, compared to analyst estimates of $83.70 billion. Research analysts expect that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th.
Get Our Latest Analysis on RDY
Dr. Reddy's Laboratories Profile
(
Free Report)
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.
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