Dr. Reddy’s Laboratories Limited (NYSE:RDY) Shares Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. boosted its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 404.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,886 shares of the company’s stock after buying an additional 11,131 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Dr. Reddy’s Laboratories were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RDY. World Investment Advisors LLC acquired a new position in Dr. Reddy’s Laboratories in the third quarter valued at approximately $3,459,000. Nordea Investment Management AB grew its position in shares of Dr. Reddy’s Laboratories by 441.8% in the 4th quarter. Nordea Investment Management AB now owns 125,363 shares of the company’s stock valued at $1,992,000 after buying an additional 102,226 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Dr. Reddy’s Laboratories during the 2nd quarter worth $2,633,000. GAMMA Investing LLC lifted its position in Dr. Reddy’s Laboratories by 369.9% in the fourth quarter. GAMMA Investing LLC now owns 6,799 shares of the company’s stock valued at $107,000 after acquiring an additional 5,352 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Dr. Reddy’s Laboratories by 109.3% in the third quarter. Geode Capital Management LLC now owns 13,254 shares of the company’s stock valued at $1,053,000 after acquiring an additional 6,920 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy’s Laboratories Stock Down 3.3 %

Shares of Dr. Reddy’s Laboratories stock opened at $14.81 on Friday. The company has a market cap of $12.36 billion, a P/E ratio of 23.66 and a beta of 0.51. The firm has a fifty day moving average of $14.86 and a two-hundred day moving average of $15.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.36 and a current ratio of 1.92. Dr. Reddy’s Laboratories Limited has a one year low of $13.43 and a one year high of $16.89.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RDY shares. Barclays reduced their target price 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. Nomura cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a report on Thursday, December 19th. Finally, StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th.

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, as well as engages in the biologics business.