Dr. Reddy’s Laboratories Limited (NYSE:RDY) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY – Get Rating) by 52.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 165,384 shares of the company’s stock after acquiring an additional 57,144 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Dr. Reddy’s Laboratories worth $8,559,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RDY. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Dr. Reddy’s Laboratories during the 4th quarter valued at about $45,709,000. Goldman Sachs Group Inc. lifted its stake in Dr. Reddy’s Laboratories by 33.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 744,485 shares of the company’s stock valued at $41,490,000 after buying an additional 187,845 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Dr. Reddy’s Laboratories by 112.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 334,100 shares of the company’s stock valued at $17,487,000 after buying an additional 176,500 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Dr. Reddy’s Laboratories by 210.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 196,038 shares of the company’s stock valued at $10,145,000 after buying an additional 132,917 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Dr. Reddy’s Laboratories by 315.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 144,600 shares of the company’s stock valued at $7,568,000 after buying an additional 109,800 shares in the last quarter. 9.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RDY has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Dr. Reddy’s Laboratories in a research note on Monday, January 30th. They issued an “underweight” rating on the stock. Bank of America raised shares of Dr. Reddy’s Laboratories from a “neutral” rating to a “buy” rating in a research note on Friday, March 17th. Sanford C. Bernstein lowered shares of Dr. Reddy’s Laboratories from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 18th. Finally, StockNews.com began coverage on shares of Dr. Reddy’s Laboratories in a research note on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.00.

Dr. Reddy’s Laboratories Stock Down 0.4 %

RDY stock opened at $54.46 on Friday. The firm has a market cap of $9.07 billion, a PE ratio of 16.35, a PEG ratio of 2.71 and a beta of 0.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.41. The firm’s 50 day moving average price is $57.59 and its 200-day moving average price is $55.19. Dr. Reddy’s Laboratories Limited has a one year low of $49.79 and a one year high of $61.40.

About Dr. Reddy’s Laboratories

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Dr. Reddy’s Laboratories Ltd. engages in the manufacture and marketing of pharmaceutical products. It operates through the following segments: Global Generics, Pharmaceutical Services & Active Ingredients, Proprietary Products, and Others. The Global Generics segment consists of manufacturing and marketing of prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name or as generic finished dosages with therapeutic equivalence to branded formulations.