Canopy Partners LLC Purchases 15,516 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Canopy Partners LLC grew its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 409.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,301 shares of the company’s stock after buying an additional 15,516 shares during the quarter. Canopy Partners LLC’s holdings in Dr. Reddy’s Laboratories were worth $305,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its holdings in shares of Dr. Reddy’s Laboratories by 453.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock valued at $180,620,000 after purchasing an additional 9,373,412 shares in the last quarter. Aikya Investment Management Ltd lifted its holdings in Dr. Reddy’s Laboratories by 416.1% during the fourth quarter. Aikya Investment Management Ltd now owns 5,610,503 shares of the company’s stock worth $88,590,000 after buying an additional 4,523,303 shares during the period. Vanguard Group Inc. boosted its position in Dr. Reddy’s Laboratories by 397.2% during the 4th quarter. Vanguard Group Inc. now owns 4,896,185 shares of the company’s stock valued at $77,311,000 after acquiring an additional 3,911,404 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Dr. Reddy’s Laboratories by 462.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,814,710 shares of the company’s stock valued at $44,444,000 after acquiring an additional 2,313,987 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 402.5% during the 4th quarter. Fisher Asset Management LLC now owns 2,468,722 shares of the company’s stock worth $38,981,000 after purchasing an additional 1,977,419 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Nomura lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY stock opened at $12.37 on Monday. Dr. Reddy’s Laboratories Limited has a 12-month low of $12.36 and a 12-month high of $16.89. The business’s fifty day simple moving average is $13.33 and its 200-day simple moving average is $14.49. The company has a current ratio of 1.92, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. The company has a market cap of $10.32 billion, a PE ratio of 19.69 and a beta of 0.51.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced 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 net margin of 17.25% and a return on equity of 17.87%. Analysts expect that Dr. Reddy’s Laboratories Limited will post 0.8 earnings per share 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.