Invesco Ltd. Acquires 32,031 Shares of Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Invesco Ltd. increased its stake in Dr. Reddy's Laboratories by 15.7% during the first quarter, holding a total of 235,435 shares valued at approximately $3.1 million.
• Dr. Reddy's Laboratories has seen analysts upgrade its stock rating, with Zacks Research moving it from a "strong sell" to a "hold" and others recommending a "buy," indicating a consensus rating of "Moderate Buy."
• The company has declared a new annual dividend of $0.0915, an increase from $0.08, reflecting a dividend yield of 62.4%.

Invesco Ltd. increased its holdings in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 15.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 235,435 shares of the company's stock after purchasing an additional 32,031 shares during the period. Invesco Ltd.'s holdings in Dr. Reddy's Laboratories were worth $3,105,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Allworth Financial LP raised its holdings in Dr. Reddy's Laboratories by 28.4% in the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company's stock valued at $49,000 after acquiring an additional 776 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Dr. Reddy's Laboratories by 3.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company's stock valued at $433,000 after acquiring an additional 831 shares in the last quarter. Bridgewater Advisors Inc. raised its holdings in Dr. Reddy's Laboratories by 2.8% in the 1st quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company's stock valued at $446,000 after acquiring an additional 880 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Dr. Reddy's Laboratories by 6.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,909 shares of the company's stock valued at $183,000 after acquiring an additional 883 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Dr. Reddy's Laboratories by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company's stock valued at $524,000 after acquiring an additional 1,099 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Analyst Upgrades and Downgrades

RDY has been the subject of several recent research reports. HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and upped their price target for the company from $14.44 to $16.90 in a report on Thursday, June 5th. Hsbc Global Res raised Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th. Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, Zacks Research raised Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $16.95.

Dr. Reddy's Laboratories Price Performance

Shares of RDY traded down $0.06 during mid-day trading on Thursday, reaching $14.14. The company had a trading volume of 41,651 shares, compared to its average volume of 1,784,617. Dr. Reddy's Laboratories Ltd has a twelve month low of $12.26 and a twelve month high of $16.19. 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 company's 50-day moving average is $14.41 and its 200-day moving average is $14.05. The company has a market capitalization of $11.80 billion, a P/E ratio of 21.42, a P/E/G ratio of 5.74 and a beta of 0.32.

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 analysts' consensus estimates of $0.18 by $0.02. The business had revenue of $988.82 million during the quarter, compared to analysts' expectations 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, equities analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current year.

Dr. Reddy's Laboratories Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, August 6th. Investors of record on Thursday, July 10th were given a dividend of $0.0915 per share. 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 dividend payout ratio is currently 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.