Smith Group Asset Management LLC Takes $685,000 Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Smith Group Asset Management LLC bought a new position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) during the 4th quarter, Holdings Channel reports. The firm bought 43,400 shares of the company’s stock, valued at approximately $685,000.

Several other institutional investors have also recently bought and sold shares of the business. Bank of Montreal Can raised its stake in shares of Dr. Reddy’s Laboratories by 75.4% in the second quarter. Bank of Montreal Can now owns 9,918 shares of the company’s stock worth $758,000 after acquiring an additional 4,262 shares during the last quarter. Millennium Management LLC raised its holdings in Dr. Reddy’s Laboratories by 61.4% in the second quarter. Millennium Management LLC now owns 332,502 shares of the company’s stock worth $25,333,000 after purchasing an additional 126,472 shares during the period. Creative Planning grew its stake in Dr. Reddy’s Laboratories by 22.6% in the second quarter. Creative Planning now owns 87,522 shares of the company’s stock valued at $6,668,000 after acquiring an additional 16,157 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Dr. Reddy’s Laboratories by 318.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company’s stock valued at $28,411,000 after purchasing an additional 283,700 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Dr. Reddy’s Laboratories by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock valued at $115,000 after buying an additional 657 shares during the period. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE RDY opened at $13.52 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02. The firm has a market cap of $11.29 billion, a P/E ratio of 21.60 and a beta of 0.51. The business’s 50 day moving average is $14.84 and its 200-day moving average is $15.49. Dr. Reddy’s Laboratories Limited has a 1-year low of $13.36 and a 1-year high of $16.89.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly 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 return on equity of 18.53% and a net margin of 17.81%. Equities research analysts predict that Dr. Reddy’s Laboratories Limited will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RDY. Barclays decreased their price objective on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Nomura downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

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.