Ameriprise Financial Inc. Sells 54,667 Shares of Dr. Reddy's Laboratories Limited (NYSE:RDY)

Ameriprise Financial Inc. trimmed its holdings in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 42.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,005 shares of the company's stock after selling 54,667 shares during the period. Ameriprise Financial Inc.'s holdings in Dr. Reddy's Laboratories were worth $1,153,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted 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 buying an additional 1,507 shares during the last quarter. Glass Jacobson Investment Advisors llc lifted its position 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 buying an additional 1,600 shares during the last quarter. POM Investment Strategies LLC lifted its position 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 buying an additional 1,820 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Dr. Reddy's Laboratories by 461.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock valued at $40,000 after buying an additional 2,093 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Dr. Reddy's Laboratories in the fourth quarter valued at approximately $43,000. 3.85% of the stock is owned by institutional investors and hedge funds.

Dr. Reddy's Laboratories Stock Performance

Shares of NYSE RDY traded up $0.77 during trading hours on Thursday, reaching $15.52. 3,753,056 shares of the stock were exchanged, compared to its average volume of 1,494,938. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 24.71 and a beta of 0.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92. Dr. Reddy's Laboratories Limited has a 52 week low of $12.26 and a 52 week high of $16.89. The stock's fifty day simple moving average is $13.82 and its 200 day simple moving average is $14.03.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. Dr. Reddy's Laboratories had a return on equity of 17.87% and a net margin of 17.25%. The company had revenue of $996.17 million for the quarter, compared to analyst estimates of $83.70 billion. Sell-side analysts predict that Dr. Reddy's Laboratories Limited will post 0.8 EPS for the current year.

Analysts Set New Price Targets

RDY has been the topic of a number of recent research reports. Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their target price for the stock from $14.44 to $16.90 in a research note on Thursday.

Dr. Reddy's Laboratories Company 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.