American Century Companies Inc. Acquires 52,108 Shares of Dr. Reddy's Laboratories Ltd $RDY

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. increased its stake in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 914,473 shares of the company's stock after acquiring an additional 52,108 shares during the period. American Century Companies Inc. owned about 0.11% of Dr. Reddy's Laboratories worth $12,062,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in RDY. Costello Asset Management INC acquired a new position in shares of Dr. Reddy's Laboratories in the 1st quarter valued at $26,000. Legacy Advisors LLC acquired a new stake in Dr. Reddy's Laboratories during the 1st quarter worth approximately $41,000. Tower Research Capital LLC TRC boosted its stake in shares of Dr. Reddy's Laboratories by 623.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company's stock valued at $48,000 after buying an additional 2,613 shares in the last quarter. Allworth Financial LP raised its holdings 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 worth $49,000 after acquiring an additional 776 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Dr. Reddy's Laboratories in the first quarter valued at $62,000. 3.85% of the stock is owned by institutional investors and hedge funds.

Dr. Reddy's Laboratories Stock Performance

Dr. Reddy's Laboratories stock traded down $0.02 during trading hours on Friday, hitting $14.20. The company had a trading volume of 920,285 shares, compared to its average volume of 1,808,328. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.71. The firm has a 50-day moving average of $14.51 and a 200 day moving average of $14.04. The firm has a market cap of $11.85 billion, a PE ratio of 21.51, a PEG ratio of 5.75 and a beta of 0.29. 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 (NYSE:RDY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, topping 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 company had revenue of $988.82 million for the quarter, compared to analyst estimates of $88.27 billion. On average, 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 firm also recently announced an annual dividend, which was paid on Wednesday, August 6th. Investors of record on Thursday, July 10th were issued a dividend of $0.0915 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a dividend yield of 62.4%. This is an increase from Dr. Reddy's Laboratories's previous annual dividend of $0.08. Dr. Reddy's Laboratories's payout ratio is 10.61%.

Analysts Set New Price Targets

A number of brokerages recently commented on RDY. Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Zacks Research upgraded Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. 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, HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and raised their target price for the stock from $14.44 to $16.90 in a research report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.