Dr. Reddy's Laboratories Ltd $RDY Holdings Reduced by OLD Mission Capital LLC

Key Points

• OLD Mission Capital LLC has significantly reduced its stake in Dr. Reddy's Laboratories, cutting its holdings by 76% to 261,399 shares, valued at approximately $3.45 million.
• Several institutional investors have actively engaged with the stock; for instance, Costello Asset Management acquired a new position worth about $26,000 in the first quarter.
• Wall Street analysts show a positive outlook for Dr. Reddy's, with multiple ratings upgrades, including a shift from a "hold" to a "buy" rating, and a consensus price target of $16.95.

OLD Mission Capital LLC cut its stake in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 76.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 261,399 shares of the company's stock after selling 826,399 shares during the period. OLD Mission Capital LLC's holdings in Dr. Reddy's Laboratories were worth $3,448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of 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 purchasing an additional 776 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Dr. Reddy's Laboratories by 3.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,419 shares of the company's stock worth $433,000 after purchasing an additional 831 shares during the last quarter. Bridgewater Advisors Inc. raised its position in shares of Dr. Reddy's Laboratories by 2.8% during the 1st quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company's stock worth $446,000 after purchasing an additional 880 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Dr. Reddy's Laboratories by 6.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,909 shares of the company's stock worth $183,000 after purchasing an additional 883 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Dr. Reddy's Laboratories by 2.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 39,743 shares of the company's stock worth $524,000 after purchasing an additional 1,099 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Dr. Reddy's Laboratories Stock Down 0.3%

RDY stock traded down $0.05 during trading on Thursday, reaching $14.15. The stock had a trading volume of 142,350 shares, compared to its average volume of 1,785,339. 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 current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $11.81 billion, a P/E ratio of 21.43, a PEG ratio of 5.74 and a beta of 0.32. The firm has a fifty day moving average price of $14.41 and a 200 day moving average price of $14.05.

Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The business 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, equities analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current year.

Dr. Reddy's Laboratories Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, August 6th. Investors of record on Thursday, July 10th were given a dividend of $0.0915 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a dividend yield of 62.4%. This is a boost from Dr. Reddy's Laboratories's previous annual dividend of $0.08. Dr. Reddy's Laboratories's payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RDY. Hsbc Global Res raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 5th. HSBC raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and boosted their price objective for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. Zacks Research raised shares of Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Wall Street Zen raised shares of Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dr. Reddy's Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $16.95.

Dr. Reddy's Laboratories 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.