OMERS ADMINISTRATION Corp Sells 21,300 Shares of Dr. Reddy's Laboratories Ltd $RDY

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Dr. Reddy's Laboratories by 13.4% in the first quarter, now holding 138,235 shares valued at $1.823 million.
• Various institutional investors, including Royal Bank of Canada, have significantly increased their positions in Dr. Reddy's Laboratories, with Royal Bank boosting its stake by 403.1% in the last quarter.
• Dr. Reddy's Laboratories announced an annual dividend increase to $0.0915 from $0.08, reflecting a 62.4% yield and a payout ratio of 10.61%.

OMERS ADMINISTRATION Corp reduced its stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 13.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,235 shares of the company's stock after selling 21,300 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Dr. Reddy's Laboratories were worth $1,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in shares of 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 buying an additional 776 shares during the period. Mercer Global Advisors Inc. ADV increased its stake 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 worth $433,000 after buying an additional 831 shares in the last quarter. Bridgewater Advisors Inc. increased its stake 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 worth $446,000 after buying an additional 880 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake 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 worth $183,000 after buying an additional 883 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake 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 worth $524,000 after buying an additional 1,099 shares in the last quarter. 3.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RDY has been the subject of a number of analyst reports. Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Zacks Research upgraded Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their price target for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research 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 issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.95.

Dr. Reddy's Laboratories Trading Down 0.1%

Shares of NYSE:RDY traded down $0.02 during trading on Thursday, reaching $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 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 capitalization of $11.83 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 5.74 and a beta of 0.32. Dr. Reddy's Laboratories Ltd has a 12 month low of $12.26 and a 12 month high of $16.19. The firm's 50 day simple moving average is $14.41 and its two-hundred day simple moving average is $14.05.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $988.82 million during the quarter, compared to the consensus estimate of $88.27 billion. Dr. Reddy's Laboratories had a net margin of 16.99% and a return on equity of 17.25%. 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 business also recently announced an annual dividend, which was paid on Wednesday, August 6th. Stockholders of record on Thursday, July 10th were given a dividend of $0.0915 per share. This represents a dividend yield of 62.4%. 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. Dr. Reddy's Laboratories's dividend payout ratio is 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.