GAMMA Investing LLC Purchases 66,049 Shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY)

GAMMA Investing LLC boosted its holdings in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 971.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,848 shares of the company's stock after purchasing an additional 66,049 shares during the period. GAMMA Investing LLC's holdings in Dr. Reddy's Laboratories were worth $961,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of Dr. Reddy's Laboratories by 403.1% during the 4th quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock worth $158,489,000 after buying an additional 8,042,163 shares during the last quarter. Renaissance Technologies LLC lifted its holdings 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 worth $148,717,000 after acquiring an additional 7,467,979 shares during the last quarter. Aikya Investment Management Ltd boosted its stake in shares of Dr. Reddy's Laboratories by 416.1% in the 4th quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company's stock valued at $88,590,000 after purchasing an additional 4,523,303 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Dr. Reddy's Laboratories by 405.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock valued at $84,643,000 after purchasing an additional 4,301,212 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Dr. Reddy's Laboratories by 397.2% during the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company's stock valued at $77,311,000 after purchasing an additional 3,911,404 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Analyst Upgrades and Downgrades

RDY has been the subject of several research reports. HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $16.95.

Dr. Reddy's Laboratories Trading Up 0.0%

NYSE:RDY traded up $0.01 during mid-day trading on Friday, hitting $15.20. 902,147 shares of the company's stock were exchanged, compared to its average volume of 1,511,014. Dr. Reddy's Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.89. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $12.68 billion, a P/E ratio of 23.02, a PEG ratio of 6.24 and a beta of 0.33. The company has a 50 day simple moving average of $14.37 and a 200-day simple moving average of $14.13.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The company had revenue of $996.17 million for the quarter, compared to analyst estimates of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.38% and a return on equity of 17.98%. As a group, research analysts expect that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.

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.