Quantbot Technologies LP Invests $1.26 Million in Dr. Reddy's Laboratories Ltd $RDY

Key Points

• Quantbot Technologies LP has acquired a new position in Dr. Reddy's Laboratories Ltd, purchasing 95,263 shares valued at approximately $1.26 million in the first quarter.
• Several institutional investors, including Brooklyn Investment Group and American Century Companies Inc., have significantly increased their holdings in Dr. Reddy's during the same period.
• Dr. Reddy's Laboratories reported better-than-expected quarterly earnings, with an EPS of $0.20 beating estimates, and analysts forecast a 0.8 EPS for the current fiscal year.

Quantbot Technologies LP purchased a new stake in shares of Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 95,263 shares of the company's stock, valued at approximately $1,257,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in RDY. Royal Bank of Canada raised its holdings in shares of Dr. Reddy's Laboratories by 403.1% in the fourth quarter. Royal Bank of Canada now owns 10,037,246 shares of the company's stock valued at $158,489,000 after acquiring an additional 8,042,163 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Dr. Reddy's Laboratories by 405.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company's stock valued at $84,643,000 after acquiring an additional 4,301,212 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Dr. Reddy's Laboratories by 1,676.4% in the fourth quarter. Millennium Management LLC now owns 2,837,632 shares of the company's stock valued at $44,806,000 after acquiring an additional 2,677,893 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Dr. Reddy's Laboratories by 608.5% in the fourth quarter. BNP Paribas Financial Markets now owns 2,900,970 shares of the company's stock valued at $45,806,000 after acquiring an additional 2,491,530 shares in the last quarter. Finally, Northern Trust Corp raised 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 acquiring an additional 1,370,366 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RDY has been the topic of several analyst reports. Wall Street Zen upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Zacks Research upgraded Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. HSBC upgraded Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating and lifted their target price for the company from $14.44 to $16.90 in a research note on Thursday, June 5th. Finally, 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. One research 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.com, Dr. Reddy's Laboratories has an average rating of "Moderate Buy" and a consensus price target of $16.95.

Dr. Reddy's Laboratories Stock Down 0.5%

Shares of RDY traded down $0.07 during mid-day trading on Thursday, hitting $14.18. 303,404 shares of the company traded hands, compared to its average volume of 1,810,283. Dr. Reddy's Laboratories Ltd has a 1-year low of $12.26 and a 1-year high of $16.71. 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 company has a market capitalization of $11.83 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 5.74 and a beta of 0.29. The business has a 50 day moving average of $14.53 and a 200 day moving average of $14.04.

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 for the quarter, topping 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 research analysts anticipate that Dr. Reddy's Laboratories Ltd will post 0.8 EPS for the current year.

Dr. Reddy's Laboratories Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Wednesday, August 6th. Shareholders of record on Thursday, July 10th were given a $0.0915 dividend. The ex-dividend date was Friday, July 25th. This represents a 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%.

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.