BNP Paribas Financial Markets increased its holdings in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 58.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,583,333 shares of the company's stock after buying an additional 1,682,363 shares during the period. BNP Paribas Financial Markets owned about 0.55% of Dr. Reddy's Laboratories worth $60,454,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Dr. Reddy's Laboratories by 495.6% during the 4th quarter. Wells Fargo & Company MN now owns 7,826 shares of the company's stock worth $124,000 after buying an additional 6,512 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Dr. Reddy's Laboratories during the fourth quarter valued at approximately $213,000. First Trust Advisors LP acquired a new stake in shares of Dr. Reddy's Laboratories during the fourth quarter valued at approximately $1,002,000. Tower Research Capital LLC TRC grew its position in Dr. Reddy's Laboratories by 623.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company's stock valued at $48,000 after purchasing an additional 2,613 shares in the last quarter. Finally, Stifel Financial Corp grew its position in Dr. Reddy's Laboratories by 592.0% in the fourth quarter. Stifel Financial Corp now owns 33,117 shares of the company's stock worth $523,000 after acquiring an additional 28,331 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.
Dr. Reddy's Laboratories Trading Down 0.1%
Shares of NYSE RDY traded down $0.02 during mid-day trading on Thursday, hitting $14.18. The company's stock had a trading volume of 359,781 shares, compared to its average volume of 1,786,081. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36. The stock has a market cap of $11.83 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 5.74 and a beta of 0.32. The company's fifty day simple moving average is $14.41 and its 200-day simple moving average is $14.05. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.19.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $88.27 billion. On average, sell-side analysts anticipate 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 announced an annual dividend, which was paid on Wednesday, August 6th. Investors of record on Thursday, July 10th were paid a $0.0915 dividend. This is a boost from Dr. Reddy's Laboratories's previous annual dividend of $0.08. This represents a dividend yield of 62.4%. The ex-dividend date of this dividend was Friday, July 25th. Dr. Reddy's Laboratories's dividend payout ratio (DPR) is 10.61%.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. HSBC upgraded shares of 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. Zacks Research upgraded shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th. One equities 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.95.
Get Our Latest Stock Analysis on RDY
Dr. Reddy's Laboratories Company Profile
(
Free Report)
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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