Logan Capital Management Inc. Raises Position in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Logan Capital Management Inc. increased its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 236.1% in the 4th quarter, HoldingsChannel reports. The firm owned 42,065 shares of the company’s stock after purchasing an additional 29,550 shares during the period. Logan Capital Management Inc.’s holdings in Dr. Reddy’s Laboratories were worth $664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RDY. Laird Norton Wetherby Wealth Management LLC increased its position in Dr. Reddy’s Laboratories by 376.9% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 200,098 shares of the company’s stock worth $3,160,000 after purchasing an additional 158,143 shares during the period. Focus Partners Wealth purchased a new stake in Dr. Reddy’s Laboratories during the fourth quarter worth about $234,000. Ethic Inc. grew its position in Dr. Reddy’s Laboratories by 422.2% during the fourth quarter. Ethic Inc. now owns 23,073 shares of the company’s stock worth $364,000 after buying an additional 18,655 shares during the period. Deutsche Bank AG increased its holdings in Dr. Reddy’s Laboratories by 311.9% in the fourth quarter. Deutsche Bank AG now owns 171,602 shares of the company’s stock valued at $2,710,000 after buying an additional 129,936 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Dr. Reddy’s Laboratories by 256.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 429,887 shares of the company’s stock valued at $6,788,000 after acquiring an additional 309,239 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Dr. Reddy’s Laboratories Price Performance

Shares of NYSE RDY opened at $13.93 on Tuesday. 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 stock has a market cap of $11.62 billion, a price-to-earnings ratio of 22.17 and a beta of 0.33. The company’s 50-day moving average price is $13.31 and its 200 day moving average price is $14.05. Dr. Reddy’s Laboratories Limited has a 52 week low of $12.26 and a 52 week high of $16.89.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Friday, May 9th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Dr. Reddy’s Laboratories had a return on equity of 17.87% and a net margin of 17.25%. The firm had revenue of $996.17 million for the quarter, compared to analysts’ expectations of $83.70 billion. As a group, research analysts forecast that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current fiscal year.

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.