Vestcor Inc Purchases 296,993 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Vestcor Inc increased its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 350.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RDY. Robeco Institutional Asset Management B.V. lifted its position in shares of Dr. Reddy’s Laboratories by 453.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock worth $180,620,000 after purchasing an additional 9,373,412 shares during the last quarter. Fisher Asset Management LLC increased its stake in Dr. Reddy’s Laboratories by 402.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,468,722 shares of the company’s stock worth $38,981,000 after buying an additional 1,977,419 shares during the period. State Street Corp lifted its holdings in Dr. Reddy’s Laboratories by 1.9% during the 3rd quarter. State Street Corp now owns 909,905 shares of the company’s stock valued at $72,292,000 after buying an additional 16,641 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in 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 valued at $8,373,000 after buying an additional 427,573 shares during the period. Finally, Rhumbline Advisers grew its stake in Dr. Reddy’s Laboratories by 458.0% in the 4th quarter. Rhumbline Advisers now owns 430,062 shares of the company’s stock worth $6,791,000 after acquiring an additional 352,994 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Stock Up 0.8 %

NYSE:RDY opened at $12.64 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38. The firm has a market cap of $10.55 billion, a PE ratio of 20.12 and a beta of 0.48. The company has a 50-day moving average of $13.99 and a 200 day moving average of $14.86. Dr. Reddy’s Laboratories Limited has a 1-year low of $12.50 and a 1-year 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 earnings per share (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%. As a group, research analysts anticipate that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on RDY shares. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Nomura lowered Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th.

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.