Acadian Asset Management LLC Raises Stake in Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Acadian Asset Management LLC increased its stake in Dr. Reddy's Laboratories by 1.6%, owning approximately 1,471,523 shares valued at $19.4 million after acquiring an additional 23,582 shares.
• Dr. Reddy's Laboratories recently announced an increase in its annual dividend to $0.0915 per share, up from $0.08, representing a yield of 62.4%.
• Analysts have revised their ratings for Dr. Reddy's Laboratories, with HSBC upgrading it from "hold" to "buy" while setting a new price target of $16.90.

Acadian Asset Management LLC increased its stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,471,523 shares of the company's stock after acquiring an additional 23,582 shares during the quarter. Acadian Asset Management LLC owned approximately 0.18% of Dr. Reddy's Laboratories worth $19,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Costello Asset Management INC acquired a new position in shares of Dr. Reddy's Laboratories during the 1st quarter worth about $26,000. Legacy Advisors LLC purchased a new stake in Dr. Reddy's Laboratories during the 1st quarter worth approximately $41,000. Allworth Financial LP lifted its position in shares of Dr. Reddy's Laboratories by 28.4% in the first quarter. Allworth Financial LP now owns 3,504 shares of the company's stock valued at $49,000 after acquiring an additional 776 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Dr. Reddy's Laboratories in the first quarter worth approximately $62,000. Finally, Brooklyn Investment Group increased its position in shares of Dr. Reddy's Laboratories by 491.9% during the first quarter. Brooklyn Investment Group now owns 6,393 shares of the company's stock worth $84,000 after purchasing an additional 5,313 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy's Laboratories Stock Up 1.6%

Shares of Dr. Reddy's Laboratories stock traded up $0.24 during trading on Wednesday, hitting $14.97. 523,018 shares of the stock were exchanged, compared to its average volume of 1,733,117. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 5.91 and a beta of 0.32. The firm's 50-day moving average price is $14.32 and its 200 day moving average price is $14.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36. Dr. Reddy's Laboratories Ltd has a 12-month low of $12.26 and a 12-month high of $16.19.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. The firm had revenue of $988.82 million for the quarter, compared to the consensus estimate of $88.27 billion. As a group, analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

Dr. Reddy's Laboratories Increases Dividend

The company also recently declared an annual dividend, which was paid on Wednesday, August 6th. Investors of record on Thursday, July 10th were paid a dividend of $0.0915 per share. The ex-dividend date was Friday, July 25th. This represents a yield of 62.4%. This is a boost from Dr. Reddy's Laboratories's previous annual dividend of $0.08. Dr. Reddy's Laboratories's dividend payout ratio (DPR) is 10.61%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their target price for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Zacks Research upgraded Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.95.

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.