Dr. Reddy's Laboratories Ltd $RDY Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has reduced its stake in Dr. Reddy's Laboratories by 19%, selling 21,500 shares, leaving it with 91,560 shares worth approximately $1.21 million.
• Various other institutional investors have increased their positions in Dr. Reddy's Laboratories, with Allworth Financial lifting its stake by 28.4% in the first quarter.
• Dr. Reddy's Laboratories raised its annual dividend to $0.0915, reflecting a positive change from its previous dividend, with a current yield of 62.4%.

Hsbc Holdings PLC lessened its stake in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,560 shares of the company's stock after selling 21,500 shares during the period. Hsbc Holdings PLC's holdings in Dr. Reddy's Laboratories were worth $1,208,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in Dr. Reddy's Laboratories during the 1st quarter worth approximately $1,257,000. Brooklyn Investment Group boosted its holdings in shares of Dr. Reddy's Laboratories by 491.9% in the 1st quarter. Brooklyn Investment Group now owns 6,393 shares of the company's stock valued at $84,000 after acquiring an additional 5,313 shares during the last quarter. Corient IA LLC purchased a new stake in shares of Dr. Reddy's Laboratories in the 1st quarter valued at $330,000. American Century Companies Inc. boosted its holdings in shares of Dr. Reddy's Laboratories by 6.0% in the 1st quarter. American Century Companies Inc. now owns 914,473 shares of the company's stock valued at $12,062,000 after acquiring an additional 52,108 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Dr. Reddy's Laboratories in the 1st quarter valued at $143,000. Hedge funds and other institutional investors own 3.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. 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. Hsbc Global Res upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. HSBC upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and increased their target price for the company from $14.44 to $16.90 in a research report on Thursday, June 5th. Finally, Wall Street Zen upgraded shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $16.95.

Dr. Reddy's Laboratories Stock Down 0.3%

Dr. Reddy's Laboratories stock traded down $0.05 during trading on Thursday, reaching $14.15. The stock had a trading volume of 88,205 shares, compared to its average volume of 1,784,890. Dr. Reddy's Laboratories Ltd has a 52-week low of $12.26 and a 52-week high of $16.19. The business has a 50 day moving average price of $14.41 and a 200 day moving average price of $14.05. 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 stock has a market cap of $11.81 billion, a PE ratio of 21.43, a P/E/G ratio of 5.74 and a beta of 0.32.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $88.27 billion. On average, analysts predict 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 announced an annual dividend, which was paid on Wednesday, August 6th. Stockholders of record on Thursday, July 10th were issued a $0.0915 dividend. This represents a dividend yield of 62.4%. The ex-dividend date of this dividend 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%.

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.