Avantax Advisory Services Inc. Buys 90,193 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Avantax Advisory Services Inc. increased its stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 396.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,935 shares of the company’s stock after acquiring an additional 90,193 shares during the period. Avantax Advisory Services Inc.’s holdings in Dr. Reddy’s Laboratories were worth $1,783,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its position 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 purchasing an additional 9,373,412 shares during the last quarter. Fisher Asset Management LLC grew its position in Dr. Reddy’s Laboratories by 402.5% during the fourth quarter. Fisher Asset Management LLC now owns 2,468,722 shares of the company’s stock valued at $38,981,000 after acquiring an additional 1,977,419 shares during the last quarter. State Street Corp grew its position in Dr. Reddy’s Laboratories by 1.9% during the third quarter. State Street Corp now owns 909,905 shares of the company’s stock valued at $72,292,000 after acquiring an additional 16,641 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Dr. Reddy’s Laboratories by 400.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company’s stock worth $8,373,000 after acquiring an additional 427,573 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Dr. Reddy’s Laboratories by 458.0% in the 4th quarter. Rhumbline Advisers now owns 430,062 shares of the company’s stock valued at $6,791,000 after purchasing an additional 352,994 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Stock Performance

NYSE:RDY opened at $13.23 on Tuesday. 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 simple moving average is $13.83 and its 200 day simple moving average is $14.77. The stock has a market cap of $11.04 billion, a P/E ratio of 21.06 and a beta of 0.48. Dr. Reddy’s Laboratories Limited has a twelve month low of $12.50 and a twelve month high of $16.89.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced 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, research analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

Analysts Set New Price Targets

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

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.