EverSource Wealth Advisors LLC Buys 1,507 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

EverSource Wealth Advisors LLC boosted its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 423.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,863 shares of the company’s stock after buying an additional 1,507 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Dr. Reddy’s Laboratories were worth $29,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its stake in Dr. Reddy’s Laboratories by 453.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,438,908 shares of the company’s stock worth $180,620,000 after purchasing an additional 9,373,412 shares during the period. Fisher Asset Management LLC lifted its position 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 buying an additional 1,977,419 shares in the last quarter. State Street Corp boosted its position in Dr. Reddy’s Laboratories by 1.9% in the third quarter. State Street Corp now owns 909,905 shares of the company’s stock worth $72,292,000 after purchasing an additional 16,641 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Dr. Reddy’s Laboratories by 400.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 534,304 shares of the company’s stock valued at $8,373,000 after acquiring an additional 427,573 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Dr. Reddy’s Laboratories by 458.0% during the fourth quarter. Rhumbline Advisers now owns 430,062 shares of the company’s stock valued at $6,791,000 after purchasing an additional 352,994 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RDY shares. Nomura cut Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th. StockNews.com lowered Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th.

Dr. Reddy’s Laboratories Price Performance

RDY stock opened at $13.59 on Friday. Dr. Reddy’s Laboratories Limited has a 52-week low of $12.50 and a 52-week high of $16.89. 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 $11.34 billion, a price-to-earnings ratio of 21.63 and a beta of 0.48. The firm has a 50 day moving average price of $13.69 and a 200-day moving average price of $14.73.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. Dr. Reddy’s Laboratories had a return on equity of 17.87% and a net margin of 17.25%. Equities research analysts forecast 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.