Prudential Financial Inc. Boosts Stake in Dr. Reddy's Laboratories Limited (NYSE:RDY)

Prudential Financial Inc. boosted its position in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 250.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 135,400 shares of the company's stock after acquiring an additional 96,800 shares during the period. Prudential Financial Inc.'s holdings in Dr. Reddy's Laboratories were worth $2,138,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its stake in shares of Dr. Reddy's Laboratories by 453.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company's stock worth $180,620,000 after purchasing an additional 9,373,412 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Dr. Reddy's Laboratories by 609.4% in the 4th quarter. Van ECK Associates Corp now owns 5,838 shares of the company's stock worth $92,000 after buying an additional 5,015 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Dr. Reddy's Laboratories by 400.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company's stock worth $8,373,000 after buying an additional 427,573 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Dr. Reddy's Laboratories during the third quarter valued at approximately $3,459,000. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of Dr. Reddy's Laboratories by 328.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 12,760 shares of the company's stock worth $201,000 after acquiring an additional 9,781 shares during the period. Hedge funds and other institutional investors own 3.85% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Nomura lowered Dr. Reddy's Laboratories from a "buy" rating to a "neutral" rating in a research report on Thursday, December 19th.

Dr. Reddy's Laboratories Stock Up 4.8 %

NYSE RDY traded up $0.60 during trading hours on Wednesday, reaching $13.03. 4,320,297 shares of the company's stock traded hands, compared to its average volume of 1,383,848. Dr. Reddy's Laboratories Limited has a 52-week low of $12.18 and a 52-week high of $16.89. 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 50-day simple moving average of $13.23 and a 200 day simple moving average of $14.41. The firm has a market cap of $10.88 billion, a PE ratio of 20.75 and a beta of 0.51.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. Dr. Reddy's Laboratories had a net margin of 17.25% and a return on equity of 17.87%. Sell-side analysts anticipate that Dr. Reddy's Laboratories Limited will post 0.8 EPS for the current fiscal year.

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.