Millennium Management LLC grew its holdings in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 1,676.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,837,632 shares of the company's stock after purchasing an additional 2,677,893 shares during the period. Millennium Management LLC owned about 0.34% of Dr. Reddy's Laboratories worth $44,806,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV boosted its holdings in Dr. Reddy's Laboratories by 3.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company's stock worth $433,000 after buying an additional 831 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Dr. Reddy's Laboratories by 423.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock worth $29,000 after acquiring an additional 1,507 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in shares of Dr. Reddy's Laboratories by 400.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock valued at $32,000 after acquiring an additional 1,600 shares during the period. POM Investment Strategies LLC raised its stake in shares of Dr. Reddy's Laboratories by 400.0% during the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company's stock worth $36,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Dr. Reddy's Laboratories by 461.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock worth $40,000 after purchasing an additional 2,093 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.
Dr. Reddy's Laboratories Price Performance
RDY stock traded up $0.02 during trading on Tuesday, hitting $14.48. The company had a trading volume of 1,629,432 shares, compared to its average volume of 1,491,049. The company has a fifty day moving average price of $13.47 and a two-hundred day moving average price of $14.03. 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 fifty-two week low of $12.26 and a fifty-two week high of $16.89. The company has a market cap of $12.09 billion, a P/E ratio of 23.06 and a beta of 0.33.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $996.17 million for the quarter, compared to analyst estimates of $83.70 billion. Dr. Reddy's Laboratories had a return on equity of 17.87% and a net margin of 17.25%. Equities research analysts expect that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th.
Read Our Latest Stock Report on Dr. Reddy's Laboratories
About Dr. Reddy's Laboratories
(
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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