E. Ohman J or Asset Management AB lessened its holdings in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY – Free Report) by 14.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,000 shares of the company’s stock after selling 7,000 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Dr. Reddy’s Laboratories were worth $616,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Dr. Reddy’s Laboratories by 2.2% during the first quarter. Vanguard Group Inc. now owns 5,002,642 shares of the company’s stock worth $65,985,000 after purchasing an additional 106,457 shares during the period. BNP Paribas Financial Markets lifted its position in Dr. Reddy’s Laboratories by 58.0% in the 1st quarter. BNP Paribas Financial Markets now owns 4,583,333 shares of the company’s stock worth $60,454,000 after buying an additional 1,682,363 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Dr. Reddy’s Laboratories by 53.1% during the 1st quarter. Millennium Management LLC now owns 4,344,000 shares of the company’s stock valued at $57,297,000 after buying an additional 1,506,368 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Dr. Reddy’s Laboratories by 1.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,471,523 shares of the company’s stock valued at $19,404,000 after acquiring an additional 23,582 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Dr. Reddy’s Laboratories by 6.0% during the 1st quarter. American Century Companies Inc. now owns 914,473 shares of the company’s stock valued at $12,062,000 after acquiring an additional 52,108 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.
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Analysts Set New Price Targets
Several brokerages recently issued reports on RDY. HSBC upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and increased their price objective for the stock 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 research report on Thursday, June 5th. Finally, Zacks Research raised Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.95.
Read Our Latest Research Report on Dr. Reddy’s Laboratories
Dr. Reddy’s Laboratories Stock Performance
RDY opened at $14.73 on Wednesday. The firm has a market capitalization of $12.30 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 5.91 and a beta of 0.32. The stock’s 50 day moving average price is $14.32 and its two-hundred day moving average price is $14.13. The company has a quick ratio of 1.36, a current ratio of 1.89 and a debt-to-equity ratio of 0.01. Dr. Reddy’s Laboratories Ltd has a 12-month low of $12.26 and a 12-month high of $16.19.
Dr. Reddy’s Laboratories (NYSE:RDY – Get Free Report) last released 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 firm had revenue of $988.82 million for 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%. On average, equities analysts forecast 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 announced an annual dividend, which was paid on Wednesday, August 6th. Shareholders of record on Thursday, July 10th were issued a $0.0915 dividend. 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 yield of 62.4%. Dr. Reddy’s Laboratories’s payout ratio is 10.61%.
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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