Panagora Asset Management Inc. Purchases 38,602 Shares of Dr. Reddy's Laboratories Limited (NYSE:RDY)

Panagora Asset Management Inc. raised its holdings in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 47.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,794 shares of the company's stock after purchasing an additional 38,602 shares during the quarter. Panagora Asset Management Inc. owned 0.07% of Dr. Reddy's Laboratories worth $8,335,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Sequoia Financial Advisors LLC lifted its holdings in Dr. Reddy's Laboratories by 1.1% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,793 shares of the company's stock worth $922,000 after buying an additional 151 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Dr. Reddy's Laboratories by 1.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 12,550 shares of the company's stock worth $839,000 after buying an additional 214 shares during the last quarter. Desjardins Global Asset Management Inc. lifted its holdings in Dr. Reddy's Laboratories by 7.2% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,786 shares of the company's stock worth $263,000 after buying an additional 255 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Dr. Reddy's Laboratories by 1.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 20,200 shares of the company's stock worth $1,351,000 after buying an additional 300 shares during the last quarter. Finally, Schechter Investment Advisors LLC lifted its holdings in Dr. Reddy's Laboratories by 6.8% during the 3rd quarter. Schechter Investment Advisors LLC now owns 4,769 shares of the company's stock worth $319,000 after buying an additional 304 shares during the last quarter. Institutional investors and hedge funds own 14.02% of the company's stock.

Dr. Reddy's Laboratories Stock Performance

RDY traded down $1.04 during trading hours on Friday, hitting $68.26. The company's stock had a trading volume of 216,784 shares, compared to its average volume of 246,298. Dr. Reddy's Laboratories Limited has a fifty-two week low of $53.12 and a fifty-two week high of $77.72. The company has a current ratio of 2.58, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $11.39 billion, a PE ratio of 16.94, a PEG ratio of 1.53 and a beta of 0.57. The company has a 50-day simple moving average of $72.78 and a 200 day simple moving average of $71.03.

Wall Street Analysts Forecast Growth

RDY has been the topic of several recent research reports. Barclays raised their price target on Dr. Reddy's Laboratories from $80.00 to $81.00 and gave the stock an "overweight" rating in a report on Wednesday, May 8th. StockNews.com downgraded Dr. Reddy's Laboratories from a "strong-buy" rating to a "buy" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $81.00.

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.