HighTower Advisors LLC Acquires Shares of 29,922 Dr. Reddy’s Laboratories Limited (NYSE:RDY)

HighTower Advisors LLC acquired a new position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 29,922 shares of the company’s stock, valued at approximately $472,000.

Other institutional investors have also modified their holdings of the company. POM Investment Strategies LLC raised its stake in Dr. Reddy’s Laboratories by 400.0% in the fourth 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 in the last quarter. Glenmede Trust Co. NA purchased a new position in shares of Dr. Reddy’s Laboratories in the 3rd quarter valued at about $207,000. Sierra Ocean LLC purchased a new position in shares of Dr. Reddy’s Laboratories in the 4th quarter valued at about $43,000. Allworth Financial LP raised its position in shares of Dr. Reddy’s Laboratories by 447.8% during the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock worth $41,000 after acquiring an additional 2,230 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its holdings in Dr. Reddy’s Laboratories by 400.0% in the fourth quarter. Independence Bank of Kentucky now owns 2,775 shares of the company’s stock valued at $44,000 after purchasing an additional 2,220 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Stock Down 0.6 %

Dr. Reddy’s Laboratories stock opened at $13.20 on Monday. The stock has a 50-day simple moving average of $13.48 and a 200-day simple moving average of $14.60. The company has a market capitalization of $11.01 billion, a P/E ratio of 21.01 and a beta of 0.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92. Dr. Reddy’s Laboratories Limited has a fifty-two week low of $12.50 and a fifty-two week high of $16.89.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share 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 expect that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RDY. Nomura cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a 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 note 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.