Jump Financial LLC grew its holdings in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 534.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 147,111 shares of the company's stock after purchasing an additional 123,911 shares during the period. Jump Financial LLC's holdings in Dr. Reddy's Laboratories were worth $1,940,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of RDY. CW Advisors LLC acquired a new stake in Dr. Reddy's Laboratories during the first quarter worth about $515,000. Groupama Asset Managment acquired a new stake in shares of Dr. Reddy's Laboratories during the 1st quarter worth approximately $707,000. Quantbot Technologies LP bought a new stake in shares of Dr. Reddy's Laboratories in the 1st quarter worth approximately $1,257,000. Brooklyn Investment Group boosted its position in Dr. Reddy's Laboratories by 491.9% during the 1st quarter. Brooklyn Investment Group now owns 6,393 shares of the company's stock valued at $84,000 after purchasing an additional 5,313 shares during the period. Finally, Corient IA LLC bought a new position in Dr. Reddy's Laboratories during the 1st quarter worth $330,000. 3.85% of the stock is owned by institutional investors and hedge funds.
Dr. Reddy's Laboratories Price Performance
NYSE:RDY traded down $0.10 during midday trading on Tuesday, hitting $14.11. 755,741 shares of the stock were exchanged, compared to its average volume of 938,938. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 5.74 and a beta of 0.32. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. Dr. Reddy's Laboratories Ltd has a one year low of $12.26 and a one year high of $16.41. The business has a 50-day moving average price of $14.44 and a two-hundred day moving average price of $14.05.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its quarterly 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 return on equity of 17.25% and a net margin of 16.99%.The company had revenue of $988.82 million for the quarter, compared to analysts' expectations of $88.27 billion. Sell-side 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 declared an annual dividend, which was paid on Wednesday, August 6th. Shareholders of record on Thursday, July 10th were given a $0.0915 dividend. This represents a yield of 62.4%. This is a boost from Dr. Reddy's Laboratories's previous annual dividend of $0.08. The ex-dividend date was Friday, July 25th. Dr. Reddy's Laboratories's dividend payout ratio (DPR) is presently 10.61%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on RDY shares. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. 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. 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. 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 investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.95.
View Our Latest Research Report on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Profile
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Free Report)
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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