Dr. Reddy's Laboratories Ltd $RDY Shares Purchased by Millennium Management LLC

Millennium Management LLC grew its stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 53.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,344,000 shares of the company's stock after acquiring an additional 1,506,368 shares during the period. Millennium Management LLC owned about 0.52% of Dr. Reddy's Laboratories worth $57,297,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Allworth Financial LP lifted its position in shares of Dr. Reddy's Laboratories by 28.4% during the first quarter. Allworth Financial LP now owns 3,504 shares of the company's stock worth $49,000 after purchasing an additional 776 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Dr. Reddy's Laboratories by 3.1% during the fourth 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 during the period. Bridgewater Advisors Inc. increased its stake in shares of Dr. Reddy's Laboratories by 2.8% during the first quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company's stock worth $446,000 after buying an additional 880 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Dr. Reddy's Laboratories by 6.8% during the first 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 during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Dr. Reddy's Laboratories by 2.8% during the first 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 during the period. Institutional investors and hedge funds own 3.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in 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. HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and upped their target price for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, Zacks Research upgraded shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.95.

Dr. Reddy's Laboratories Stock Down 0.5%

Dr. Reddy's Laboratories stock traded down $0.08 during mid-day trading on Friday, hitting $14.65. The company had a trading volume of 904,411 shares, compared to its average volume of 760,165. The stock has a market cap of $12.23 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 5.95 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 company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $14.33 and a 200 day moving average of $14.11.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $988.82 million for the quarter, compared to analyst estimates 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, sell-side analysts expect 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 disclosed an annual dividend, which was paid on Wednesday, August 6th. Stockholders of record on Thursday, July 10th were issued a $0.0915 dividend. The ex-dividend date of this dividend was Friday, July 25th. This is an increase 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 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.