Legacy Capital Group California Inc. acquired a new stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,672 shares of the company’s stock, valued at approximately $204,000.
Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC bought a new stake in Dr. Reddy’s Laboratories during the 4th quarter worth about $34,000. CWM LLC grew its stake in Dr. Reddy’s Laboratories by 37.9% in the fourth quarter. CWM LLC now owns 2,174 shares of the company’s stock valued at $151,000 after purchasing an additional 598 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Dr. Reddy’s Laboratories during the 1st quarter worth approximately $189,000. Aprio Wealth Management LLC bought a new stake in shares of Dr. Reddy’s Laboratories during the 1st quarter worth approximately $212,000. Finally, Trexquant Investment LP acquired a new stake in shares of Dr. Reddy’s Laboratories in the 4th quarter valued at approximately $219,000. Institutional investors own 14.02% of the company’s stock.
Dr. Reddy’s Laboratories Price Performance
NYSE:RDY traded up $0.63 during trading hours on Wednesday, reaching $83.81. 101,390 shares of the company were exchanged, compared to its average volume of 225,324. The business has a 50 day moving average of $78.20 and a 200 day moving average of $74.84. Dr. Reddy’s Laboratories Limited has a 1-year low of $63.72 and a 1-year high of $84.46. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.55 and a quick ratio of 1.92. The company has a market capitalization of $13.99 billion, a P/E ratio of 20.78, a P/E/G ratio of 1.81 and a beta of 0.56.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Barclays upped their price target on shares of Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com cut Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th.
View Our Latest Stock Report on RDY
About Dr. Reddy’s Laboratories
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.
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