Bridgewater Advisors Inc. Takes Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Bridgewater Advisors Inc. purchased a new stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 31,093 shares of the company’s stock, valued at approximately $474,000.

A number of other hedge funds also recently bought and sold shares of RDY. Farther Finance Advisors LLC increased its position in shares of Dr. Reddy’s Laboratories by 43.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after purchasing an additional 137 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Dr. Reddy’s Laboratories by 6.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,945 shares of the company’s stock worth $377,000 after acquiring an additional 316 shares during the period. Van ECK Associates Corp lifted its position in shares of Dr. Reddy’s Laboratories by 64.3% during the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after buying an additional 322 shares in the last quarter. Aprio Wealth Management LLC increased its holdings in Dr. Reddy’s Laboratories by 14.2% in the 3rd quarter. Aprio Wealth Management LLC now owns 3,055 shares of the company’s stock worth $243,000 after acquiring an additional 380 shares in the last quarter. Finally, Lifestyle Asset Management Inc. raised its stake in Dr. Reddy’s Laboratories by 3.2% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 13,689 shares of the company’s stock worth $1,088,000 after acquiring an additional 422 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RDY. Nomura cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th. StockNews.com downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Barclays cut their price target on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th.

Dr. Reddy’s Laboratories Stock Performance

Shares of NYSE:RDY opened at $14.91 on Monday. The firm has a fifty day simple moving average of $14.86 and a two-hundred day simple moving average of $15.55. Dr. Reddy’s Laboratories Limited has a 52 week low of $13.47 and a 52 week high of $16.89. The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $12.44 billion, a P/E ratio of 23.82 and a beta of 0.51.

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, as well as engages in the biologics business.