Royal Bank of Canada Has $158.49 Million Stock Position in Dr. Reddy's Laboratories Limited (NYSE:RDY)

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

A number of other institutional investors also recently made changes to their positions in RDY. EverSource Wealth Advisors LLC boosted its holdings in shares of Dr. Reddy's Laboratories by 423.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock worth $29,000 after acquiring an additional 1,507 shares during the period. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Dr. Reddy's Laboratories by 400.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,000 shares of the company's stock worth $32,000 after acquiring an additional 1,600 shares during the period. POM Investment Strategies LLC boosted its holdings in shares of 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 worth $36,000 after acquiring an additional 1,820 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of 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 buying an additional 2,093 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of Dr. Reddy's Laboratories by 447.8% in the fourth quarter. Allworth Financial LP now owns 2,728 shares of the company's stock valued at $41,000 after buying an additional 2,230 shares during the period. Institutional investors own 3.85% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th.

Dr. Reddy's Laboratories Price Performance

Shares of RDY stock traded up $0.10 during trading on Friday, hitting $14.38. The company had a trading volume of 1,383,272 shares, compared to its average volume of 1,490,439. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.92. The firm has a market capitalization of $12.00 billion, a P/E ratio of 22.90 and a beta of 0.33. The stock's 50-day moving average price is $13.58 and its 200 day moving average price is $14.02. Dr. Reddy's Laboratories Limited has a one year low of $12.26 and a one year high of $16.89.

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

Dr. Reddy's Laboratories Company 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.