Summit Global Investments Purchases 113,785 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Summit Global Investments lifted its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 404.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,902 shares of the company’s stock after acquiring an additional 113,785 shares during the quarter. Summit Global Investments’ holdings in Dr. Reddy’s Laboratories were worth $2,241,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Dr. Reddy’s Laboratories by 453.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock worth $180,620,000 after acquiring an additional 9,373,412 shares during the last quarter. Aikya Investment Management Ltd lifted its holdings 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 worth $88,590,000 after acquiring an additional 4,523,303 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 402.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,468,722 shares of the company’s stock worth $38,981,000 after acquiring an additional 1,977,419 shares during the last quarter. State Street Corp lifted its holdings in shares of Dr. Reddy’s Laboratories by 1.9% in the 3rd quarter. State Street Corp now owns 909,905 shares of the company’s stock worth $72,292,000 after acquiring an additional 16,641 shares during the last quarter. Finally, Mondrian Investment Partners LTD lifted its holdings in shares of Dr. Reddy’s Laboratories by 356.7% in the 4th quarter. Mondrian Investment Partners LTD now owns 648,813 shares of the company’s stock worth $10,245,000 after acquiring an additional 506,752 shares during the last quarter. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Trading Up 1.1 %

RDY stock opened at $13.73 on Friday. The company has a market capitalization of $11.46 billion, a PE ratio of 21.86 and a beta of 0.48. Dr. Reddy’s Laboratories Limited has a 12 month low of $12.50 and a 12 month high of $16.89. The firm’s 50-day moving average is $13.66 and its 200 day moving average is $14.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 EPS for the quarter, topping 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%. On average, research analysts anticipate that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RDY shares. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Nomura downgraded shares of 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.