Dr. Reddy's Laboratories Ltd $RDY Stock Holdings Lifted by Millennium Management LLC

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

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG increased its holdings in shares of Dr. Reddy's Laboratories by 311.9% in the fourth quarter. Deutsche Bank AG now owns 171,602 shares of the company's stock valued at $2,710,000 after buying an additional 129,936 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Dr. Reddy's Laboratories by 331.2% in the first quarter. National Bank of Canada FI now owns 71,000 shares of the company's stock valued at $936,000 after buying an additional 54,536 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Dr. Reddy's Laboratories by 10.3% in the first quarter. Bessemer Group Inc. now owns 863,880 shares of the company's stock valued at $11,395,000 after buying an additional 81,024 shares in the last quarter. Northern Trust Corp increased 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 buying an additional 1,370,366 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Dr. Reddy's Laboratories by 534.1% in the first quarter. Jump Financial LLC now owns 147,111 shares of the company's stock valued at $1,940,000 after buying an additional 123,911 shares in the last quarter. Institutional investors own 3.85% of the company's stock.

Dr. Reddy's Laboratories Price Performance

Shares of NYSE:RDY opened at $14.34 on Monday. The company's fifty day moving average is $14.38 and its two-hundred day moving average is $14.07. The company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 0.01. Dr. Reddy's Laboratories Ltd has a 12-month low of $12.26 and a 12-month high of $16.19. The company has a market cap of $11.97 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 5.79 and a beta of 0.32.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $988.82 million for the quarter, compared to the consensus estimate of $88.27 billion. Equities 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 business also recently declared an annual dividend, which was paid on Wednesday, August 6th. Stockholders of record on Thursday, July 10th were paid a $0.0915 dividend. 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 (DPR) is currently 10.61%.

Analysts Set New Price Targets

Several research analysts have issued reports on RDY shares. Hsbc Global Res raised Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th. Zacks Research raised Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and boosted their target price for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. One 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 MarketBeat.com, Dr. Reddy's Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $16.95.

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.

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