Millennium Management LLC Raises Stock Holdings in Dr. Reddy's Laboratories Limited (NYSE:RDY)

Millennium Management LLC raised its position in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 1,676.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 0.34% of Dr. Reddy's Laboratories worth $44,806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV raised its holdings in Dr. Reddy's Laboratories by 3.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company's stock valued at $433,000 after acquiring an additional 831 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 valued at $29,000 after purchasing an additional 1,507 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in shares of Dr. Reddy's Laboratories by 400.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock valued at $32,000 after purchasing an additional 1,600 shares during the last quarter. POM Investment Strategies LLC increased its holdings in shares of Dr. Reddy's Laboratories by 400.0% in the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company's stock valued at $36,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Dr. Reddy's Laboratories by 461.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock worth $40,000 after buying an additional 2,093 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Dr. Reddy's Laboratories Trading Down 0.4%

RDY stock traded down $0.05 during trading on Thursday, reaching $14.28. 328,448 shares of the stock were exchanged, compared to its average volume of 1,489,448. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 22.75 and a beta of 0.33. The business has a 50 day moving average price of $13.54 and a 200-day moving average price of $14.03. Dr. Reddy's Laboratories Limited has a 1 year low of $12.26 and a 1 year high of $16.89.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $996.17 million during the quarter, compared to the consensus estimate of $83.70 billion. On average, research analysts predict that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th.

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.