Sierra Ocean LLC Buys Shares of 2,710 Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Sierra Ocean LLC bought a new stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) during the fourth quarter, HoldingsChannel.com reports. The firm bought 2,710 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RDY. Robeco Institutional Asset Management B.V. grew its position in Dr. Reddy’s Laboratories by 453.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock valued at $180,620,000 after acquiring an additional 9,373,412 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Dr. Reddy’s Laboratories by 400.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company’s stock valued at $8,373,000 after acquiring an additional 427,573 shares during the last quarter. Rhumbline Advisers grew its position in Dr. Reddy’s Laboratories by 458.0% in the fourth quarter. Rhumbline Advisers now owns 430,062 shares of the company’s stock valued at $6,791,000 after acquiring an additional 352,994 shares during the last quarter. Artemis Investment Management LLP grew its position in Dr. Reddy’s Laboratories by 398.3% in the fourth quarter. Artemis Investment Management LLP now owns 295,530 shares of the company’s stock valued at $4,666,000 after acquiring an additional 236,224 shares during the last quarter. Finally, Augustine Asset Management Inc. grew its position in Dr. Reddy’s Laboratories by 392.6% in the fourth quarter. Augustine Asset Management Inc. now owns 249,744 shares of the company’s stock valued at $3,943,000 after acquiring an additional 199,044 shares during the last quarter. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Stock Performance

NYSE:RDY opened at $13.60 on Tuesday. The stock’s 50-day moving average is $14.71 and its 200-day moving average is $15.26. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. The stock has a market cap of $11.35 billion, a P/E ratio of 21.65 and a beta of 0.50. Dr. Reddy’s Laboratories Limited has a 1-year low of $13.36 and a 1-year high of $16.89.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Dr. Reddy’s Laboratories had a return on equity of 17.87% and a net margin of 17.25%. Equities research analysts anticipate that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

Analysts Set New Price Targets

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

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.