Deutsche Bank AG Sells 20,915 Shares of Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Deutsche Bank AG reduced its stake in Dr. Reddy's Laboratories by 12.2%, selling 20,915 shares and ending the quarter with a total of 150,687 shares valued at approximately $1,988,000.
• Several hedge funds have recently increased their investments in Dr. Reddy's Laboratories, with positions purchased or boosted by entities such as Costello Asset Management and Tower Research Capital.
• Dr. Reddy's shares have received increased ratings from analysts, moving from "strong sell" to "hold" and "buy," indicating a positive outlook, with a current consensus rating of "Moderate Buy" and an average target price of $16.95.

Deutsche Bank AG lowered its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 150,687 shares of the company's stock after selling 20,915 shares during the period. Deutsche Bank AG's holdings in Dr. Reddy's Laboratories were worth $1,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RDY. Royal Bank of Canada boosted its holdings in Dr. Reddy's Laboratories by 403.1% in the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock worth $158,489,000 after acquiring an additional 8,042,163 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Dr. Reddy's Laboratories by 405.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock valued at $84,643,000 after purchasing an additional 4,301,212 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Dr. Reddy's Laboratories by 1,676.4% in the fourth quarter. Millennium Management LLC now owns 2,837,632 shares of the company's stock valued at $44,806,000 after purchasing an additional 2,677,893 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Dr. Reddy's Laboratories by 608.5% in the fourth quarter. BNP Paribas Financial Markets now owns 2,900,970 shares of the company's stock valued at $45,806,000 after purchasing an additional 2,491,530 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Dr. Reddy's Laboratories by 1,822.1% in the fourth quarter. Northern Trust Corp now owns 1,445,572 shares of the company's stock valued at $22,826,000 after purchasing an additional 1,370,366 shares in the last quarter. Institutional investors own 3.85% of the company's stock.

Wall Street Analysts Forecast Growth

RDY has been the topic of a number of recent research reports. Wall Street Zen upgraded 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 report on Friday, August 15th. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and raised their target price for the company from $14.44 to $16.90 in a report on Thursday, June 5th. Finally, Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a 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 given a Hold rating to the stock. According to MarketBeat.com, Dr. Reddy's Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $16.95.

Dr. Reddy's Laboratories Stock Performance

Shares of RDY traded up $0.03 on Wednesday, reaching $14.24. 515,711 shares of the company's stock traded hands, compared to its average volume of 1,291,638. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. The stock has a market cap of $11.88 billion, a PE ratio of 21.57, a PEG ratio of 5.74 and a beta of 0.29. The stock's 50 day simple moving average is $14.53 and its two-hundred day simple moving average is $14.04. Dr. Reddy's Laboratories Ltd has a 52-week low of $12.26 and a 52-week high of $16.77.

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, beating analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $988.82 million during the quarter, compared to the consensus estimate of $88.27 billion. Dr. Reddy's Laboratories had a return on equity of 17.25% and a net margin of 16.99%. On average, analysts forecast 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. Shareholders of record on Thursday, July 10th were paid a $0.0915 dividend. The ex-dividend date was Friday, July 25th. This is a boost from Dr. Reddy's Laboratories's previous annual dividend of $0.08. This represents a dividend yield of 62.4%. Dr. Reddy's Laboratories's dividend payout ratio is presently 10.61%.

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.