Aikya Investment Management Ltd Buys 4,523,303 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Aikya Investment Management Ltd boosted its stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 416.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,610,503 shares of the company’s stock after buying an additional 4,523,303 shares during the period. Dr. Reddy’s Laboratories makes up 36.9% of Aikya Investment Management Ltd’s portfolio, making the stock its 2nd largest holding. Aikya Investment Management Ltd’s holdings in Dr. Reddy’s Laboratories were worth $88,590,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in Dr. Reddy’s Laboratories by 423.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $29,000 after buying an additional 1,507 shares during the last quarter. POM Investment Strategies LLC grew its stake in 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 valued at $36,000 after buying an additional 1,820 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Dr. Reddy’s Laboratories by 461.0% in 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 during the last quarter. Allworth Financial LP grew its stake in Dr. Reddy’s Laboratories by 447.8% in the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock valued at $41,000 after buying an additional 2,230 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new position in Dr. Reddy’s Laboratories in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Stock Performance

Shares of NYSE:RDY opened at $13.59 on Friday. The company’s 50 day moving average price is $13.69 and its two-hundred day moving average price is $14.73. Dr. Reddy’s Laboratories Limited has a 12-month low of $12.50 and a 12-month high of $16.89. The firm has a market cap of $11.34 billion, a PE ratio of 21.63 and a beta of 0.48. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Nomura lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th.

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.