Dr. Reddy’s Laboratories Limited (NYSE:RDY) Shares Acquired by Canopy Partners LLC

Canopy Partners LLC grew its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 409.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,301 shares of the company’s stock after acquiring an additional 15,516 shares during the period. Canopy Partners LLC’s holdings in Dr. Reddy’s Laboratories were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RDY. EverSource Wealth Advisors LLC grew its position in Dr. Reddy’s Laboratories by 423.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company’s stock worth $29,000 after purchasing an additional 1,507 shares during the period. POM Investment Strategies LLC raised its position in Dr. Reddy’s Laboratories by 400.0% during the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company’s stock valued at $36,000 after acquiring an additional 1,820 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Dr. Reddy’s Laboratories by 461.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company’s stock valued at $40,000 after acquiring an additional 2,093 shares during the period. Sierra Ocean LLC purchased a new stake in Dr. Reddy’s Laboratories in the 4th quarter worth approximately $43,000. Finally, Allworth Financial LP grew its stake in shares of Dr. Reddy’s Laboratories by 447.8% during the 4th quarter. Allworth Financial LP now owns 2,728 shares of the company’s stock worth $41,000 after purchasing an additional 2,230 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

Analysts Set New Price Targets

Separately, Nomura cut 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 Price Performance

NYSE:RDY opened at $12.37 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories Limited has a 52 week low of $12.36 and a 52 week high of $16.89. The stock’s 50-day moving average price is $13.33 and its 200-day moving average price is $14.49. The stock has a market capitalization of $10.32 billion, a PE ratio of 19.69 and a beta of 0.51.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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, equities analysts expect 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.