Vanguard Group Inc. boosted its stake in Dr. Reddy's Laboratories Ltd (NYSE:RDY - Free Report) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,002,642 shares of the company's stock after purchasing an additional 106,457 shares during the quarter. Vanguard Group Inc. owned about 0.60% of Dr. Reddy's Laboratories worth $65,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Costello Asset Management INC bought a new position in shares of Dr. Reddy's Laboratories in the 1st quarter worth about $26,000. PNC Financial Services Group Inc. grew its position in Dr. Reddy's Laboratories by 2.8% in 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 period. Thornburg Investment Management Inc. raised its position in Dr. Reddy's Laboratories by 1.8% in the first quarter. Thornburg Investment Management Inc. now owns 71,001 shares of the company's stock worth $937,000 after acquiring an additional 1,250 shares during the period. LPL Financial LLC raised its position in Dr. Reddy's Laboratories by 10.0% in the first quarter. LPL Financial LLC now owns 140,918 shares of the company's stock worth $1,859,000 after acquiring an additional 12,792 shares during the period. Finally, Wealth Alliance LLC bought a new position in Dr. Reddy's Laboratories in the first quarter worth approximately $133,000. 3.85% of the stock is owned by hedge funds and other institutional investors.
Dr. Reddy's Laboratories Stock Performance
Dr. Reddy's Laboratories stock traded down $0.02 during mid-day trading on Friday, reaching $14.20. 920,285 shares of the company traded hands, compared to its average volume of 1,055,166. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 5.74 and a beta of 0.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.89 and a quick ratio of 1.36. The firm's fifty day moving average is $14.49 and its two-hundred day moving average is $14.04. Dr. Reddy's Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.71.
Dr. Reddy's Laboratories (NYSE:RDY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 EPS for the quarter, beating 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 business had revenue of $988.82 million during the quarter, compared to analysts' expectations of $88.27 billion. On average, equities research analysts expect 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 declared 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. This is a boost from Dr. Reddy's Laboratories's previous annual dividend of $0.08. The ex-dividend date was Friday, July 25th. This represents a dividend yield of 62.4%. Dr. Reddy's Laboratories's payout ratio is currently 10.61%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on RDY shares. 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 Global Res upgraded Dr. Reddy's Laboratories from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. 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 target for the stock from $14.44 to $16.90 in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.95.
Get Our Latest Stock Analysis on Dr. Reddy's Laboratories
Dr. Reddy's Laboratories Profile
(
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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