CW Advisors LLC Buys Shares of 39,025 Dr. Reddy's Laboratories Ltd $RDY

Key Points

• CW Advisors LLC acquired a new stake in Dr. Reddy's Laboratories, purchasing 39,025 shares valued at approximately $515,000.
• In the fourth quarter, several institutional investors significantly increased their stakes, with Royal Bank of Canada increasing its holdings by 403.1%.
• Dr. Reddy's Laboratories has declared an increase in its annual dividend to $0.0915, reflecting a 62.4% yield and improving from a previous dividend of $0.08.

CW Advisors LLC acquired a new stake in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 39,025 shares of the company's stock, valued at approximately $515,000.

Other hedge funds have also added to or reduced their stakes in the company. Costello Asset Management INC purchased a new position in Dr. Reddy's Laboratories during the 1st quarter valued at $26,000. Tower Research Capital LLC TRC increased its position in Dr. Reddy's Laboratories by 623.6% during the 4th 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 during the period. Legacy Advisors LLC purchased a new position in Dr. Reddy's Laboratories during the 1st quarter valued at $41,000. Allworth Financial LP increased its position in Dr. Reddy's Laboratories by 28.4% during the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company's stock valued at $49,000 after purchasing an additional 776 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in Dr. Reddy's Laboratories during the 1st quarter valued at $62,000. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy's Laboratories Stock Down 0.1%

Shares of NYSE RDY traded down $0.02 during midday trading on Monday, hitting $14.20. The stock had a trading volume of 920,285 shares, compared to its average volume of 1,035,974. The business's 50 day moving average is $14.49 and its 200-day moving average is $14.04. The company has a market cap of $11.85 billion, a P/E ratio of 21.51, a PEG ratio of 5.74 and a beta of 0.32. Dr. Reddy's Laboratories Ltd has a 52 week low of $12.26 and a 52 week high of $16.71. The company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 0.01.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (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 company had revenue of $988.82 million for the quarter, compared to analysts' expectations of $88.27 billion. As a group, analysts predict that Dr. Reddy's Laboratories Ltd will post 0.8 EPS 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 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 of this dividend was Friday, July 25th. This represents a yield of 62.4%. Dr. Reddy's Laboratories's payout ratio is presently 10.61%.

Analyst Ratings Changes

Several research analysts recently issued reports on RDY shares. Hsbc Global Res upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. Zacks Research raised shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. 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 stock. According to MarketBeat.com, Dr. Reddy's Laboratories currently has an average rating of "Moderate Buy" and an average price target 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.