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

Prudential Financial Inc. raised its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 250.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 large investors have also recently modified their holdings of RDY. EverSource Wealth Advisors LLC raised its stake in Dr. Reddy’s Laboratories by 423.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $29,000 after purchasing an additional 1,507 shares in the last quarter. POM Investment Strategies LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 400.0% in the 4th quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock worth $36,000 after buying an additional 1,820 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Dr. Reddy’s Laboratories by 461.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock valued at $40,000 after buying an additional 2,093 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Dr. Reddy’s Laboratories by 447.8% during the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock worth $41,000 after acquiring an additional 2,230 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in Dr. Reddy’s Laboratories in the fourth quarter worth $43,000. Institutional investors own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

RDY has been the topic of a number of research reports. Nomura downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. StockNews.com cut Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th.

Dr. Reddy’s Laboratories Price Performance

RDY stock opened at $12.37 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92. The firm has a market cap of $10.32 billion, a P/E ratio of 19.69 and a beta of 0.48. The firm’s fifty day moving average is $13.33 and its 200 day moving average is $14.51. Dr. Reddy’s Laboratories Limited has a 52 week low of $12.36 and a 52 week high of $16.89.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data 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 return on equity of 17.87% and a net margin of 17.25%. Research analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

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.