Dr. Reddy’s Laboratories Limited (NYSE:RDY) Shares Purchased by Confluence Investment Management LLC

Confluence Investment Management LLC grew its position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 400.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,290 shares of the company’s stock after acquiring an additional 14,632 shares during the quarter. Confluence Investment Management LLC’s holdings in Dr. Reddy’s Laboratories were worth $289,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in Dr. Reddy’s Laboratories by 43.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after purchasing an additional 137 shares during the period. Venturi Wealth Management LLC bought a new position in Dr. Reddy’s Laboratories in the 3rd quarter worth approximately $60,000. Van ECK Associates Corp increased its position in Dr. Reddy’s Laboratories by 64.3% in the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after acquiring an additional 322 shares during the period. GAMMA Investing LLC raised its stake in Dr. Reddy’s Laboratories by 83.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock valued at $115,000 after acquiring an additional 657 shares in the last quarter. Finally, Glenmede Trust Co. NA acquired a new position in Dr. Reddy’s Laboratories during the 3rd quarter worth $207,000. Institutional investors own 3.85% of the company’s stock.

Analysts Set New Price Targets

RDY has been the topic of a number of research analyst reports. Barclays lowered their price target on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Nomura lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

Dr. Reddy’s Laboratories Price Performance

NYSE:RDY opened at $15.44 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $14.78 and its 200 day moving average price is $15.49. Dr. Reddy’s Laboratories Limited has a 52-week low of $13.43 and a 52-week high of $16.89. The firm has a market cap of $12.89 billion, a P/E ratio of 24.66 and a beta of 0.53.

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.