Matthews International Capital Management LLC Acquires 1,900 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)


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Matthews International Capital Management LLC boosted its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 38.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,800 shares of the company’s stock after purchasing an additional 1,900 shares during the quarter. Matthews International Capital Management LLC’s holdings in Dr. Reddy’s Laboratories were worth $485,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. JJJ Advisors Inc. increased its holdings in Dr. Reddy’s Laboratories by 185.4% in the fourth quarter. JJJ Advisors Inc. now owns 411 shares of the company’s stock worth $29,000 after purchasing an additional 267 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Dr. Reddy’s Laboratories during the third quarter valued at approximately $106,000. Wrapmanager Inc. bought a new stake in shares of Dr. Reddy’s Laboratories during the fourth quarter valued at approximately $202,000. LPL Financial LLC bought a new stake in shares of Dr. Reddy’s Laboratories during the third quarter valued at approximately $204,000. Finally, Townsquare Capital LLC bought a new stake in shares of Dr. Reddy’s Laboratories during the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 12.89% of the company’s stock.

RDY stock opened at $60.91 on Tuesday. The stock’s fifty day simple moving average is $67.32 and its two-hundred day simple moving average is $66.07. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 0.04. Dr. Reddy’s Laboratories Limited has a 1-year low of $33.33 and a 1-year high of $73.50. The stock has a market cap of $10.09 billion, a P/E ratio of 50.51 and a beta of 0.41.

RDY has been the subject of several recent research reports. Investec upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, February 3rd. Zacks Investment Research upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, November 2nd. Finally, Barclays upgraded Dr. Reddy’s Laboratories from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $56.00 to $70.00 in a report on Tuesday, February 2nd. Five investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $69.00.

Dr. Reddy’s Laboratories Profile

Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide. It operates through three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. Dr. Reddy's Laboratories Limited operates as an integrated pharmaceutical company worldwide.

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Institutional Ownership by Quarter for Dr. Reddy`s Laboratories (NYSE:RDY)

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