Dr. Reddy's Laboratories Limited (NYSE:RDY) Holdings Raised by Royal Bank of Canada

Royal Bank of Canada increased its position in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 403.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,037,246 shares of the company's stock after purchasing an additional 8,042,163 shares during the quarter. Royal Bank of Canada owned 1.20% of Dr. Reddy's Laboratories worth $158,489,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV raised its position in shares of Dr. Reddy's Laboratories by 3.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company's stock worth $433,000 after purchasing an additional 831 shares during the period. EverSource Wealth Advisors LLC increased its position in Dr. Reddy's Laboratories by 423.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock worth $29,000 after buying an additional 1,507 shares during the period. Glass Jacobson Investment Advisors llc increased its position in Dr. Reddy's Laboratories by 400.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock worth $32,000 after buying an additional 1,600 shares during the period. POM Investment Strategies LLC lifted its stake in Dr. Reddy's Laboratories by 400.0% in the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company's stock valued at $36,000 after buying an additional 1,820 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Dr. Reddy's Laboratories by 461.0% during 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. Institutional investors and hedge funds own 3.85% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th.

Dr. Reddy's Laboratories Price Performance

Shares of NYSE:RDY opened at $14.44 on Monday. The firm's 50 day moving average is $13.43 and its two-hundred day moving average is $14.03. The firm has a market capitalization of $12.05 billion, a P/E ratio of 22.99 and a beta of 0.33. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. Dr. Reddy's Laboratories Limited has a 52 week low of $12.26 and a 52 week high of $16.89.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its earnings results on Friday, May 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. Dr. Reddy's Laboratories had a return on equity of 17.87% and a net margin of 17.25%. The firm had revenue of $996.17 million for the quarter, compared to analysts' expectations of $83.70 billion. Analysts anticipate that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.