Ameriprise Financial Inc. Lowers Stock Holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Ameriprise Financial Inc. cut its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 42.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 73,005 shares of the company’s stock after selling 54,667 shares during the period. Ameriprise Financial Inc.’s holdings in Dr. Reddy’s Laboratories were worth $1,153,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 382.9% during the fourth quarter. Renaissance Technologies LLC now owns 9,418,428 shares of the company’s stock valued at $148,717,000 after purchasing an additional 7,467,979 shares during the last quarter. Aikya Investment Management Ltd raised its stake in Dr. Reddy’s Laboratories by 416.1% during the 4th quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company’s stock valued at $88,590,000 after buying an additional 4,523,303 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Dr. Reddy’s Laboratories by 405.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company’s stock valued at $84,643,000 after buying an additional 4,301,212 shares during the last quarter. Vanguard Group Inc. raised its stake in Dr. Reddy’s Laboratories by 397.2% during the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company’s stock valued at $77,311,000 after buying an additional 3,911,404 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Dr. Reddy’s Laboratories by 462.1% during the fourth quarter. JPMorgan Chase & Co. now owns 2,814,710 shares of the company’s stock valued at $44,444,000 after acquiring an additional 2,313,987 shares during the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Dr. Reddy’s Laboratories Stock Down 0.3%

Shares of RDY stock opened at $14.71 on Monday. Dr. Reddy’s Laboratories Limited has a 12 month low of $12.26 and a 12 month high of $16.89. The stock has a market cap of $12.28 billion, a P/E ratio of 23.42 and a beta of 0.33. 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 company has a 50 day simple moving average of $13.68 and a two-hundred day simple moving average of $14.01.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The firm had revenue of $996.17 million during the quarter, compared to analyst estimates of $83.70 billion. Dr. Reddy’s Laboratories had a return on equity of 17.87% and a net margin of 17.25%. On average, 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

Separately, Wall Street Zen upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th.

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.