Prudential PLC Buys Shares of 172,283 Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Prudential PLC purchased a new position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 172,283 shares of the company’s stock, valued at approximately $2,707,000.

Several other institutional investors have also modified their holdings of RDY. EverSource Wealth Advisors LLC raised its holdings in 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 period. POM Investment Strategies LLC increased its position in shares of Dr. Reddy’s Laboratories by 400.0% during the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock worth $36,000 after acquiring an additional 1,820 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 461.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock worth $40,000 after acquiring an additional 2,093 shares during the period. Allworth Financial LP lifted its position in Dr. Reddy’s Laboratories by 447.8% in the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock valued at $41,000 after acquiring an additional 2,230 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new position in Dr. Reddy’s Laboratories in the 4th quarter worth $43,000. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Trading Down 6.6 %

NYSE:RDY opened at $12.37 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories Limited has a twelve month low of $12.36 and a twelve month high of $16.89. The company has a market cap of $10.32 billion, a P/E ratio of 19.69 and a beta of 0.51. The business has a 50 day moving average price of $13.33 and a two-hundred day moving average price of $14.50.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, analysts expect that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Nomura downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

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.