Dr. Reddy's Laboratories Ltd $RDY Shares Bought by Ballentine Partners LLC

Key Points

• Ballentine Partners LLC significantly increased its stake in Dr. Reddy's Laboratories by 93.3% during the second quarter, now holding 145,218 shares worth approximately $2.18 million.
• Dr. Reddy's Laboratories has recently increased its dividend to $0.0915 per share, representing a yield of 62.4%, an increase from its previous annual dividend of $0.08.
• Several analysts have updated their ratings for Dr. Reddy's Laboratories, with HSBC upgrading it from a "hold" to a "buy" rating and setting a new price target of $16.90.

Ballentine Partners LLC raised its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 93.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,218 shares of the company's stock after purchasing an additional 70,110 shares during the quarter. Ballentine Partners LLC's holdings in Dr. Reddy's Laboratories were worth $2,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Allworth Financial LP boosted 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 valued at $49,000 after acquiring an additional 776 shares in the last quarter. Bridgewater Advisors Inc. boosted its holdings in shares of Dr. Reddy's Laboratories by 2.8% in the first 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 boosted its holdings in shares of Dr. Reddy's Laboratories by 6.8% in the first 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. PNC Financial Services Group Inc. boosted its holdings in shares of Dr. Reddy's Laboratories by 2.8% in the first 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. Finally, Foster Group Inc. boosted its holdings in shares of Dr. Reddy's Laboratories by 8.3% in the first quarter. Foster Group Inc. now owns 14,838 shares of the company's stock valued at $196,000 after acquiring an additional 1,134 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Dr. Reddy's Laboratories Trading Down 0.6%

Dr. Reddy's Laboratories stock opened at $14.42 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89. The firm has a market cap of $12.04 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 5.86 and a beta of 0.32. Dr. Reddy's Laboratories Ltd has a 1 year low of $12.26 and a 1 year high of $16.19. The firm's 50 day moving average price is $14.33 and its two-hundred day moving average price is $14.20.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last posted its quarterly 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 firm had revenue of $988.82 million for the quarter, compared to analyst estimates of $88.27 billion. On average, research analysts predict that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current fiscal year.

Dr. Reddy's Laboratories Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, August 6th. Shareholders of record on Thursday, July 10th were given a dividend of $0.0915 per share. This represents a yield of 62.4%. The ex-dividend date was Friday, July 25th. This is a positive change from Dr. Reddy's Laboratories's previous annual dividend of $0.08. Dr. Reddy's Laboratories's dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the company from $14.44 to $16.90 in a report on Thursday, June 5th. Zacks Research upgraded shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Hsbc Global Res upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th. One investment 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's stock. According to data from MarketBeat, the company has an average 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.

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