Migdal Insurance & Financial Holdings Ltd. Purchases 8,000 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Migdal Insurance & Financial Holdings Ltd. increased its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 200.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,000 shares of the company’s stock after buying an additional 8,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Dr. Reddy’s Laboratories were worth $837,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FSC Wealth Advisors LLC bought a new position in shares of Dr. Reddy’s Laboratories during the 3rd quarter valued at approximately $40,000. Harbour Investments Inc. lifted its position in Dr. Reddy’s Laboratories by 2,884.6% during the third quarter. Harbour Investments Inc. now owns 776 shares of the company’s stock valued at $52,000 after purchasing an additional 750 shares during the last quarter. Ronald Blue Trust Inc. grew its stake in shares of Dr. Reddy’s Laboratories by 84.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,905 shares of the company’s stock worth $120,000 after buying an additional 874 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Dr. Reddy’s Laboratories by 3,440.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,947 shares of the company’s stock worth $130,000 after buying an additional 1,892 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Dr. Reddy’s Laboratories by 103.5% in the 2nd quarter. Wells Fargo & Company MN now owns 3,064 shares of the company’s stock worth $193,000 after buying an additional 1,558 shares during the last quarter. 14.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RDY shares. StockNews.com raised shares of Dr. Reddy’s Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Jefferies Financial Group lowered Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a research note on Thursday, January 11th. Finally, Barclays boosted their target price on Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $80.00.

Dr. Reddy’s Laboratories Stock Performance

Shares of NYSE:RDY opened at $71.37 on Thursday. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories Limited has a 12 month low of $53.12 and a 12 month high of $77.72. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 1.79 and a beta of 0.58. The firm’s 50-day moving average is $74.54 and its 200 day moving average is $70.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its earnings results on Wednesday, January 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11. Dr. Reddy’s Laboratories had a return on equity of 20.97% and a net margin of 19.26%. The firm had revenue of $867.00 million for the quarter, compared to analysts’ expectations of $827.81 million. Research analysts predict that Dr. Reddy’s Laboratories Limited will post 3.96 EPS for the current year.

Dr. Reddy’s Laboratories 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.