Dr. Reddy's Laboratories Limited (NYSE:RDY) Shares Acquired by GAMMA Investing LLC

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

Several other hedge funds have also recently added to or reduced their stakes in RDY. EverSource Wealth Advisors LLC lifted its position in shares of Dr. Reddy's Laboratories by 423.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock worth $29,000 after buying an additional 1,507 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its position in Dr. Reddy's Laboratories by 400.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock worth $32,000 after buying an additional 1,600 shares during the last quarter. Farther Finance Advisors LLC grew its stake 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 during the period. Sierra Ocean LLC acquired a new position in shares of Dr. Reddy's Laboratories during the 4th quarter worth $43,000. Finally, Allworth Financial LP grew its stake in shares of Dr. Reddy's Laboratories by 447.8% during the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company's stock worth $41,000 after purchasing an additional 2,230 shares during the period. Institutional investors and hedge funds own 3.85% of the company's stock.

Dr. Reddy's Laboratories Trading Down 3.1%

NYSE RDY traded down $0.49 during mid-day trading on Tuesday, hitting $15.23. The company's stock had a trading volume of 1,600,777 shares, compared to its average volume of 1,513,582. 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 $14.24 and its two-hundred day simple moving average is $14.11. 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 firm has a market capitalization of $12.71 billion, a P/E ratio of 24.25 and a beta of 0.33.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $83.70 billion. Research analysts expect that Dr. Reddy's Laboratories Limited will post 0.8 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RDY shares. Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and upped their target price for the company from $14.44 to $16.90 in a report on Thursday, June 5th. Finally, Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Dr. Reddy's Laboratories presently has a consensus rating of "Buy" and a consensus target price of $16.95.

About Dr. Reddy's Laboratories

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.