Vanguard Group Inc. boosted its position in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,002,642 shares of the company's stock after acquiring an additional 106,457 shares during the period. Vanguard Group Inc. owned 0.60% of Dr. Reddy's Laboratories worth $65,985,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 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 valued at $49,000 after buying an additional 776 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in 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 valued at $433,000 after buying an additional 831 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in Dr. Reddy's Laboratories by 2.8% during the 1st quarter. Bridgewater Advisors Inc. now owns 31,973 shares of the company's stock valued at $446,000 after buying an additional 880 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in 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 valued at $183,000 after buying an additional 883 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in 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 valued at $524,000 after buying an additional 1,099 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on RDY shares. HSBC raised 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 report on Thursday, June 5th. Hsbc Global Res raised Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 5th. Zacks Research raised Dr. Reddy's Laboratories from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Wall Street Zen raised Dr. Reddy's Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.95.
Read Our Latest Research Report on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Price Performance
RDY traded down $0.02 during midday trading on Friday, hitting $14.19. The stock had a trading volume of 62,372 shares, compared to its average volume of 1,802,950. The company has a market cap of $11.84 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 5.75 and a beta of 0.29. The business has a fifty day moving average of $14.51 and a 200 day moving average of $14.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89. Dr. Reddy's Laboratories Ltd has a 1 year low of $12.26 and a 1 year high of $16.71.
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, topping the consensus estimate of $0.18 by $0.02. The business had revenue of $988.82 million during the quarter, compared to analyst estimates of $88.27 billion. Dr. Reddy's Laboratories had a return on equity of 17.25% and a net margin of 16.99%. As a group, equities analysts forecast that Dr. Reddy's Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.
Dr. Reddy's Laboratories Increases Dividend
The business also recently disclosed an annual dividend, which was paid on Wednesday, August 6th. Stockholders of record on Thursday, July 10th were paid a dividend of $0.0915 per share. This represents a dividend yield of 62.4%. This is a boost from Dr. Reddy's Laboratories's previous annual dividend of $0.08. The ex-dividend date of this dividend was Friday, July 25th. Dr. Reddy's Laboratories's payout ratio is currently 10.61%.
About Dr. Reddy's Laboratories
(
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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