Vestcor Inc Grows Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Vestcor Inc raised its stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 350.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 381,670 shares of the company’s stock after purchasing an additional 296,993 shares during the period. Vestcor Inc’s holdings in Dr. Reddy’s Laboratories were worth $6,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RDY. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Dr. Reddy’s Laboratories by 96.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 305,639 shares of the company’s stock worth $4,826,000 after purchasing an additional 150,158 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Dr. Reddy’s Laboratories by 396.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 112,935 shares of the company’s stock worth $1,783,000 after buying an additional 90,193 shares in the last quarter. Farther Finance Advisors LLC boosted its position 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 last quarter. EverSource Wealth Advisors LLC grew its stake in Dr. Reddy’s Laboratories by 423.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $29,000 after acquiring an additional 1,507 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Dr. Reddy’s Laboratories by 432.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 83,229 shares of the company’s stock valued at $1,314,000 after acquiring an additional 67,586 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Dr. Reddy’s Laboratories Price Performance

Dr. Reddy’s Laboratories stock opened at $12.64 on Friday. Dr. Reddy’s Laboratories Limited has a 52-week low of $12.50 and a 52-week high of $16.89. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average is $13.99 and its 200 day moving average is $14.86. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 20.12 and a beta of 0.48.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly 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%. Sell-side analysts forecast that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current fiscal year.

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.