Allspring Global Investments Holdings LLC Acquires 427,573 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Allspring Global Investments Holdings LLC grew its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 400.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 534,304 shares of the company’s stock after buying an additional 427,573 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dr. Reddy’s Laboratories were worth $8,373,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RDY. Robeco Institutional Asset Management B.V. increased its stake in Dr. Reddy’s Laboratories by 453.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock valued at $180,620,000 after acquiring an additional 9,373,412 shares during the period. State Street Corp grew its stake in shares of Dr. Reddy’s Laboratories by 1.9% in the 3rd quarter. State Street Corp now owns 909,905 shares of the company’s stock valued at $72,292,000 after purchasing an additional 16,641 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Dr. Reddy’s Laboratories by 59.4% in the 3rd quarter. Fisher Asset Management LLC now owns 491,303 shares of the company’s stock worth $39,034,000 after buying an additional 183,146 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Dr. Reddy’s Laboratories by 30.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 409,440 shares of the company’s stock worth $32,530,000 after buying an additional 96,339 shares during the period. Finally, Artemis Investment Management LLP boosted its stake in Dr. Reddy’s Laboratories by 398.3% in the 4th quarter. Artemis Investment Management LLP now owns 295,530 shares of the company’s stock valued at $4,666,000 after buying an additional 236,224 shares in the last quarter. 3.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RDY. Barclays reduced their price objective on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Nomura lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th.

Dr. Reddy’s Laboratories Price Performance

NYSE:RDY opened at $13.57 on Wednesday. Dr. Reddy’s Laboratories Limited has a 52-week low of $13.36 and a 52-week high of $16.89. The company has a market cap of $11.32 billion, a P/E ratio of 21.60 and a beta of 0.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92. The stock’s 50-day simple moving average is $14.71 and its 200 day simple moving average is $15.26.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Dr. Reddy’s Laboratories had a return on equity of 17.87% and a net margin of 17.25%. As a group, sell-side analysts forecast that Dr. Reddy’s Laboratories Limited will post 0.8 EPS 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.