Dr. Reddy's Laboratories Ltd $RDY Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in Dr. Reddy's Laboratories by 6.0%, owning approximately 914,473 shares valued at $12,062,000.
• Several institutional investors, including Costello Asset Management and Legacy Advisors LLC, have recently acquired new positions in Dr. Reddy's Laboratories during the first quarter.
• Dr. Reddy's Laboratories received upgraded ratings from HSBC Global Research and Wall Street Zen, with a consensus rating of "Moderate Buy" and an average target price of $16.95.

American Century Companies Inc. lifted its stake in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 6.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 914,473 shares of the company's stock after buying an additional 52,108 shares during the quarter. American Century Companies Inc. owned approximately 0.11% of Dr. Reddy's Laboratories worth $12,062,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aquatic Capital Management LLC acquired a new position in shares of Dr. Reddy's Laboratories during the fourth quarter worth about $543,000. Deutsche Bank AG grew its position in shares of 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 buying an additional 129,936 shares in the last quarter. National Bank of Canada FI grew its position in shares of Dr. Reddy's Laboratories by 331.2% during the first quarter. National Bank of Canada FI now owns 71,000 shares of the company's stock worth $936,000 after buying an additional 54,536 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Dr. Reddy's Laboratories by 10.3% during the first quarter. Bessemer Group Inc. now owns 863,880 shares of the company's stock worth $11,395,000 after buying an additional 81,024 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Dr. Reddy's Laboratories by 1,822.1% during the 4th quarter. Northern Trust Corp now owns 1,445,572 shares of the company's stock worth $22,826,000 after acquiring an additional 1,370,366 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RDY shares. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and boosted 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 note on Thursday, June 5th. Zacks Research upgraded Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $16.95.

Dr. Reddy's Laboratories Stock Performance

RDY stock traded down $0.02 on Friday, hitting $14.20. The company's stock had a trading volume of 920,285 shares, compared to its average volume of 1,035,974. The firm has a 50 day moving average of $14.49 and a two-hundred day moving average of $14.04. Dr. Reddy's Laboratories Ltd has a 1 year low of $12.26 and a 1 year high of $16.71. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 5.74 and a beta of 0.32. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $88.27 billion. Equities analysts predict that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current fiscal year.

Dr. Reddy's Laboratories Increases Dividend

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

Dr. Reddy's Laboratories Company 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.