Mirae Asset Global Investments Co. Ltd. Raises Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 382.8% during the fourth quarter, Holdings Channel reports. The fund owned 18,666 shares of the company’s stock after purchasing an additional 14,800 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Dr. Reddy’s Laboratories were worth $293,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Dr. Reddy’s Laboratories by 453.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock valued at $180,620,000 after buying an additional 9,373,412 shares in the last quarter. World Investment Advisors LLC purchased a new position in Dr. Reddy’s Laboratories during the 3rd quarter valued at about $3,459,000. Crossmark Global Holdings Inc. boosted its stake in Dr. Reddy’s Laboratories by 328.3% during the fourth 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 in the last quarter. Nordea Investment Management AB grew its holdings in Dr. Reddy’s Laboratories by 441.8% in the fourth quarter. Nordea Investment Management AB now owns 125,363 shares of the company’s stock worth $1,992,000 after purchasing an additional 102,226 shares during the period. Finally, Atomi Financial Group Inc. bought a new position in shares of Dr. Reddy’s Laboratories during the fourth quarter valued at approximately $162,000. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Price Performance

Shares of RDY opened at $14.02 on Friday. The firm has a fifty day simple moving average of $14.75 and a two-hundred day simple moving average of $15.32. The firm has a market cap of $11.70 billion, a PE ratio of 22.32 and a beta of 0.50. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. 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 announced its earnings results on Thursday, January 23rd. The company reported $0.20 EPS 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%. On average, equities analysts anticipate that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RDY shares. Nomura cut Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. Barclays dropped their target price on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Finally, StockNews.com cut Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

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.