Dr. Reddy’s Laboratories Limited (NYSE:RDY) Stake Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 96.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305,639 shares of the company’s stock after acquiring an additional 150,158 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Dr. Reddy’s Laboratories were worth $4,826,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 423.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock valued at $29,000 after purchasing an additional 1,507 shares during the last quarter. POM Investment Strategies LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 400.0% in the 4th quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock valued at $36,000 after purchasing an additional 1,820 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 461.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock valued at $40,000 after purchasing an additional 2,093 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Dr. Reddy’s Laboratories by 447.8% in the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock valued at $41,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Dr. Reddy’s Laboratories in the 4th quarter valued at $43,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RDY has been the subject of several analyst reports. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Nomura lowered 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 Stock Up 0.2 %

Dr. Reddy’s Laboratories stock opened at $12.69 on Monday. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 20.21 and a beta of 0.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.38. Dr. Reddy’s Laboratories Limited has a fifty-two week low of $12.50 and a fifty-two week high of $16.89. The firm has a fifty day moving average price of $13.87 and a two-hundred day moving average price of $14.79.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share for the quarter, topping 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%. As a group, analysts forecast that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share for the current 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.