Connor Clark & Lunn Investment Management Ltd. Has $420,000 Holdings in Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its stake in Dr. Reddy's Laboratories by 89.6%, owning 31,814 shares worth approximately $420,000 after selling 273,825 shares in the first quarter.
• Several institutional investors, including Wells Fargo and Envestnet, have significantly increased their holdings in Dr. Reddy's Laboratories, showing a trend of increased interest in the company.
• Analysts have recently upgraded Dr. Reddy's Laboratories, with HSBC raising its rating from "hold" to "strong-buy," suggesting a positive outlook for the stock with an average price target of $16.95.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 89.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,814 shares of the company's stock after selling 273,825 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Dr. Reddy's Laboratories were worth $420,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allworth Financial LP boosted its stake in shares of Dr. Reddy's Laboratories by 28.4% in the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company's stock valued at $49,000 after purchasing an additional 776 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Dr. Reddy's Laboratories by 3.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company's stock valued at $433,000 after buying an additional 831 shares during the last quarter. Bridgewater Advisors Inc. raised its holdings in shares of Dr. Reddy's Laboratories by 2.8% in the first quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company's stock valued at $446,000 after buying an additional 880 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Dr. Reddy's Laboratories by 6.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,909 shares of the company's stock valued at $183,000 after buying an additional 883 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Dr. Reddy's Laboratories by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company's stock valued at $524,000 after buying an additional 1,099 shares during the last quarter. Institutional investors own 3.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their price target for the company from $14.44 to $16.90 in a report on Thursday, June 5th. Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Hsbc Global Res upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Zacks Research raised Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.95.

Dr. Reddy's Laboratories Stock Down 0.4%

NYSE RDY traded down $0.0550 during trading hours on Monday, reaching $14.4550. 931,624 shares of the company's stock were exchanged, compared to its average volume of 1,335,739. The company's 50-day moving average is $14.57 and its two-hundred day moving average is $14.03. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 5.86 and a beta of 0.29.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. Dr. Reddy's Laboratories had a return on equity of 17.25% and a net margin of 16.99%.The business had revenue of $988.82 million during the quarter, compared to analysts' expectations of $88.27 billion. On average, analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current fiscal year.

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.