Acadian Asset Management LLC Buys 23,582 Shares of 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 boosted its stake in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 about 0.18% of Dr. Reddy's Laboratories worth $19,404,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RDY. Bank of America Corp DE increased its stake in Dr. Reddy's Laboratories by 123.1% during the fourth quarter. Bank of America Corp DE now owns 1,916,425 shares of the company's stock worth $30,260,000 after acquiring an additional 1,057,584 shares during the last quarter. Cetera Investment Advisers increased its stake in Dr. Reddy's Laboratories by 410.5% during the fourth quarter. Cetera Investment Advisers now owns 20,720 shares of the company's stock worth $327,000 after acquiring an additional 16,661 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in Dr. Reddy's Laboratories by 256.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 429,887 shares of the company's stock worth $6,788,000 after acquiring an additional 309,239 shares during the last quarter. Deutsche Bank AG increased its stake in Dr. Reddy's Laboratories by 311.9% during the fourth quarter. Deutsche Bank AG now owns 171,602 shares of the company's stock worth $2,710,000 after acquiring an additional 129,936 shares during the last quarter. Finally, Ethic Inc. grew its stake in shares of Dr. Reddy's Laboratories by 422.2% during the fourth quarter. Ethic Inc. now owns 23,073 shares of the company's stock valued at $364,000 after buying an additional 18,655 shares during the last quarter. 3.85% of the stock is owned by institutional investors.

Dr. Reddy's Laboratories Stock Up 1.0%

Shares of NYSE RDY opened at $14.72 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 5.89 and a beta of 0.32. The stock has a 50 day moving average price of $14.34 and a 200 day moving average price of $14.09. Dr. Reddy's Laboratories Ltd has a 52-week low of $12.26 and a 52-week 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $988.82 million during the quarter, compared to analyst estimates of $88.27 billion. Dr. Reddy's Laboratories had a return on equity of 17.25% and a net margin of 16.99%. Sell-side analysts expect that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.

Dr. Reddy's Laboratories Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on RDY. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and upped their target price for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. Hsbc Global Res raised Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Zacks Research raised Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.95.

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.

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