Fisher Asset Management LLC Purchases 1,977,419 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Fisher Asset Management LLC increased its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 402.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,468,722 shares of the company’s stock after buying an additional 1,977,419 shares during the period. Fisher Asset Management LLC’s holdings in Dr. Reddy’s Laboratories were worth $38,981,000 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. Farther Finance Advisors LLC boosted its position in Dr. Reddy’s Laboratories by 43.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock worth $36,000 after acquiring an additional 137 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Dr. Reddy’s Laboratories by 64.3% during the third quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock worth $64,000 after purchasing an additional 322 shares during the last quarter. Lifestyle Asset Management Inc. grew its position in Dr. Reddy’s Laboratories by 3.2% in the third quarter. Lifestyle Asset Management Inc. now owns 13,689 shares of the company’s stock valued at $1,088,000 after purchasing an additional 422 shares in the last quarter. Natixis Advisors LLC increased its stake in Dr. Reddy’s Laboratories by 7.2% in the 3rd quarter. Natixis Advisors LLC now owns 10,937 shares of the company’s stock valued at $869,000 after buying an additional 735 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Dr. Reddy’s Laboratories during the 3rd quarter worth about $60,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY stock opened at $12.77 on Monday. The company has a fifty day moving average price of $14.45 and a two-hundred day moving average price of $15.05. Dr. Reddy’s Laboratories Limited has a one year low of $12.62 and a one year high of $16.89. The stock has a market cap of $10.66 billion, a P/E ratio of 20.33 and a beta of 0.50. 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 issued its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RDY shares. Barclays decreased their price objective on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Nomura cut Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. Finally, StockNews.com lowered Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report 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.