Fisher Asset Management LLC Boosts Holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Fisher Asset Management LLC grew its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 125.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,672 shares of the company’s stock after buying an additional 114,022 shares during the quarter. Fisher Asset Management LLC owned 0.12% of Dr. Reddy’s Laboratories worth $14,241,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Aikya Investment Management Ltd acquired a new stake in Dr. Reddy’s Laboratories in the fourth quarter valued at about $75,850,000. Assenagon Asset Management S.A. boosted its stake in shares of Dr. Reddy’s Laboratories by 416.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 196,146 shares of the company’s stock valued at $13,648,000 after buying an additional 158,141 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Dr. Reddy’s Laboratories by 319.2% during the third quarter. Qube Research & Technologies Ltd now owns 174,398 shares of the company’s stock worth $11,662,000 after acquiring an additional 132,791 shares during the period. Walleye Capital LLC purchased a new position in Dr. Reddy’s Laboratories in the third quarter worth $7,433,000. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Dr. Reddy’s Laboratories by 47.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 250,788 shares of the company’s stock valued at $16,770,000 after acquiring an additional 80,784 shares during the period. Hedge funds and other institutional investors own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY opened at $75.21 on Monday. Dr. Reddy’s Laboratories Limited has a 12-month low of $53.12 and a 12-month high of $77.72. The stock has a market cap of $12.55 billion, a P/E ratio of 19.84, a PEG ratio of 1.88 and a beta of 0.57. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $73.97 and a two-hundred day moving average of $70.75.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RDY. Barclays increased their price target on shares of Dr. Reddy’s Laboratories from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Jefferies Financial Group cut shares of Dr. Reddy’s Laboratories from a “buy” rating to an “underperform” rating in a report on Thursday, January 11th. Finally, StockNews.com lowered Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Dr. Reddy’s Laboratories has a consensus rating of “Hold” and a consensus target price of $80.00.

Dr. Reddy’s Laboratories Company 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.