Thornburg Investment Management Inc. Purchases 48,763 Shares of Dr. Reddy's Laboratories Limited (NYSE:RDY)

Thornburg Investment Management Inc. boosted its stake in shares of Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 232.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 69,751 shares of the company's stock after buying an additional 48,763 shares during the period. Thornburg Investment Management Inc.'s holdings in Dr. Reddy's Laboratories were worth $1,101,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV raised its holdings in 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 buying an additional 831 shares during the period. EverSource Wealth Advisors LLC raised its holdings 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 buying an additional 1,507 shares during the period. Glass Jacobson Investment Advisors llc raised its holdings in Dr. Reddy's Laboratories by 400.0% during the 4th 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 raised its holdings in Dr. Reddy's Laboratories by 400.0% during the 4th quarter. POM Investment Strategies LLC now owns 2,275 shares of the company's stock worth $36,000 after buying an additional 1,820 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Dr. Reddy's Laboratories by 461.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock worth $40,000 after acquiring an additional 2,093 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy's Laboratories Stock Up 0.7%

Shares of RDY traded up $0.10 during mid-day trading on Friday, hitting $14.38. 1,383,272 shares of the company's stock were exchanged, compared to its average volume of 1,490,439. The company has a market cap of $12.00 billion, a PE ratio of 22.90 and a beta of 0.33. Dr. Reddy's Laboratories Limited has a 52 week low of $12.26 and a 52 week high of $16.89. The company has a 50-day simple moving average of $13.58 and a 200 day simple moving average of $14.02. 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 (NYSE:RDY - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $996.17 million during the quarter, compared to analysts' expectations of $83.70 billion. Dr. Reddy's Laboratories had a net margin of 17.25% and a return on equity of 17.87%. On average, research analysts forecast that Dr. Reddy's Laboratories Limited will post 0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.