Envestnet Asset Management Inc. Buys 131,807 Shares of Dr. Reddy's Laboratories Limited (NYSE:RDY)

Envestnet Asset Management Inc. raised its holdings in Dr. Reddy's Laboratories Limited (NYSE:RDY - Free Report) by 396.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 165,088 shares of the company's stock after buying an additional 131,807 shares during the period. Envestnet Asset Management Inc.'s holdings in Dr. Reddy's Laboratories were worth $2,607,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Dr. Reddy's Laboratories by 423.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,863 shares of the company's stock valued at $29,000 after purchasing an additional 1,507 shares during the period. POM Investment Strategies LLC grew its holdings in shares of Dr. Reddy's Laboratories by 400.0% in the fourth quarter. POM Investment Strategies LLC now owns 2,275 shares of the company's stock valued at $36,000 after acquiring an additional 1,820 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Dr. Reddy's Laboratories by 461.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,547 shares of the company's stock valued at $40,000 after acquiring an additional 2,093 shares during the period. Sierra Ocean LLC bought a new stake in Dr. Reddy's Laboratories in the 4th quarter valued at about $43,000. Finally, Allworth Financial LP increased its position in shares of Dr. Reddy's Laboratories by 447.8% during 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. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy's Laboratories Price Performance

Shares of NYSE RDY traded up $0.16 during midday trading on Monday, hitting $13.95. 1,320,112 shares of the company's stock were exchanged, compared to its average volume of 1,468,885. Dr. Reddy's Laboratories Limited has a 12-month low of $12.26 and a 12-month high of $16.89. 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 $11.65 billion, a price-to-earnings ratio of 22.21 and a beta of 0.51. The business's fifty day moving average price is $13.18 and its two-hundred day moving average price is $14.19.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. As a group, research analysts forecast that Dr. Reddy's Laboratories Limited will post 0.8 EPS for the current fiscal year.

Dr. Reddy's Laboratories 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.