Independence Bank of Kentucky Grows Stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Independence Bank of Kentucky boosted its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 400.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,775 shares of the company’s stock after acquiring an additional 2,220 shares during the quarter. Independence Bank of Kentucky’s holdings in Dr. Reddy’s Laboratories were worth $44,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of Dr. Reddy’s Laboratories by 43.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after purchasing an additional 137 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Dr. Reddy’s Laboratories in the third quarter worth approximately $60,000. Van ECK Associates Corp boosted its holdings in Dr. Reddy’s Laboratories by 64.3% in the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock worth $64,000 after buying an additional 322 shares during the period. GAMMA Investing LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after acquiring an additional 657 shares during the period. Finally, Glenmede Trust Co. NA bought a new position in shares of Dr. Reddy’s Laboratories in the third quarter worth about $207,000. Institutional investors own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Stock Up 0.2 %

Shares of NYSE:RDY opened at $13.84 on Monday. The business has a 50 day simple moving average of $14.81 and a two-hundred day simple moving average of $15.44. Dr. Reddy’s Laboratories Limited has a 1 year low of $13.36 and a 1 year high of $16.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38. The firm has a market capitalization of $11.55 billion, a PE ratio of 22.03 and a beta of 0.51.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.25% and a return on equity of 17.87%. On average, equities analysts predict that Dr. Reddy’s Laboratories Limited will post 0.8 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on RDY. Barclays cut their target price on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Nomura downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

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.