Jump Financial LLC Has $1.94 Million Stock Holdings in Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Jump Financial LLC increased its stake in Dr. Reddy's Laboratories by 534.1%, holding 147,111 shares valued at approximately $1.94 million as of the latest SEC filing.
• Dr. Reddy's Laboratories reported quarterly earnings of $0.20 EPS, exceeding the consensus estimate of $0.18, and announced an annual dividend increase to $0.0915 per share.
• Analysts have upgraded Dr. Reddy's Laboratories with a current consensus rating of "Moderate Buy" and an average price target of $16.95.

Jump Financial LLC grew its stake in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 534.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 147,111 shares of the company's stock after acquiring an additional 123,911 shares during the period. Jump Financial LLC's holdings in Dr. Reddy's Laboratories were worth $1,940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of RDY. Costello Asset Management INC purchased a new stake in Dr. Reddy's Laboratories during the first quarter valued at about $26,000. Legacy Advisors LLC bought a new stake in shares of Dr. Reddy's Laboratories during the first quarter valued at approximately $41,000. Tower Research Capital LLC TRC grew its position in Dr. Reddy's Laboratories by 623.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company's stock valued at $48,000 after acquiring an additional 2,613 shares during the period. Allworth Financial LP grew its holdings in Dr. Reddy's Laboratories by 28.4% during the 1st quarter. Allworth Financial LP now owns 3,504 shares of the company's stock worth $49,000 after acquiring an additional 776 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Dr. Reddy's Laboratories during the first quarter worth approximately $62,000. Institutional investors and hedge funds own 3.85% of the company's stock.

Dr. Reddy's Laboratories Stock Performance

Shares of NYSE:RDY traded down $0.02 on Monday, reaching $14.20. 920,285 shares of the company's stock were exchanged, compared to its average volume of 1,035,974. 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 twelve month low of $12.26 and a twelve month high of $16.71. The company has a fifty day moving average of $14.49 and a 200-day moving average of $14.04. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 5.74 and a beta of 0.32.

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 for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $988.82 million during the quarter, compared to analysts' expectations of $88.27 billion. Dr. Reddy's Laboratories had a return on equity of 17.25% and a net margin of 16.99%. 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 firm also recently declared an annual dividend, which was paid on Wednesday, August 6th. Stockholders of record on Thursday, July 10th were issued a dividend of $0.0915 per share. This is an increase from Dr. Reddy's Laboratories's previous annual dividend of $0.08. The ex-dividend date of this dividend was Friday, July 25th. This represents a dividend yield of 62.4%. Dr. Reddy's Laboratories's payout ratio is presently 10.61%.

Analysts Set New Price Targets

Several research analysts have weighed in on RDY shares. Hsbc Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report 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 note on Thursday, May 8th. Zacks Research raised Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, HSBC raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the company from $14.44 to $16.90 in a research report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Dr. Reddy's Laboratories presently has an average 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.