Natixis Advisors L.P. acquired a new position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 26,013 shares of the company’s stock, valued at approximately $1,481,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of RDY. Envestnet Asset Management Inc. grew its stake in Dr. Reddy’s Laboratories by 1.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 12,388 shares of the company’s stock worth $648,000 after buying an additional 187 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 9.0% during the first quarter. Lindbrook Capital LLC now owns 3,041 shares of the company’s stock valued at $173,000 after acquiring an additional 250 shares in the last quarter. Janiczek Wealth Management LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 9.4% during the first quarter. Janiczek Wealth Management LLC now owns 3,062 shares of the company’s stock valued at $184,000 after acquiring an additional 264 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Dr. Reddy’s Laboratories by 3.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,402 shares of the company’s stock valued at $590,000 after purchasing an additional 342 shares during the last quarter. Finally, DGS Capital Management LLC boosted its stake in Dr. Reddy’s Laboratories by 6.0% in the 4th quarter. DGS Capital Management LLC now owns 6,782 shares of the company’s stock worth $351,000 after purchasing an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 12.42% of the company’s stock.
Analyst Upgrades and Downgrades
RDY has been the subject of a number of research analyst reports. StockNews.com initiated coverage on Dr. Reddy’s Laboratories in a research note on Thursday, August 17th. They issued a “strong-buy” rating for the company. Sanford C. Bernstein downgraded Dr. Reddy’s Laboratories from an “outperform” rating to a “market perform” rating in a report on Thursday, May 18th. HSBC downgraded shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Barclays lifted their price objective on shares of Dr. Reddy’s Laboratories from $67.00 to $70.00 in a research note on Thursday, June 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $70.00.
Dr. Reddy’s Laboratories Trading Up 0.1 %
Shares of NYSE:RDY opened at $68.04 on Monday. The company has a market capitalization of $11.35 billion, a PE ratio of 19.66, a PEG ratio of 2.08 and a beta of 0.56. Dr. Reddy’s Laboratories Limited has a 12-month low of $49.79 and a 12-month high of $73.17. The business has a 50 day moving average of $66.99 and a two-hundred day moving average of $60.35. The company has a current ratio of 2.60, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02.
Dr. Reddy’s Laboratories (NYSE:RDY – Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.71 by $0.32. The company had revenue of $820.20 million for the quarter, compared to analyst estimates of $790.67 million. Dr. Reddy’s Laboratories had a net margin of 18.11% and a return on equity of 20.94%. As a group, analysts forecast that Dr. Reddy’s Laboratories Limited will post 3.74 EPS for the current year.
Dr. Reddy’s Laboratories Increases Dividend
The firm also recently announced an annual dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, January 1st were given a dividend of $0.4877 per share. This is a positive change from Dr. Reddy’s Laboratories’s previous annual dividend of $0.33. The ex-dividend date was Friday, July 28th. This represents a dividend yield of 0.7%. Dr. Reddy’s Laboratories’s dividend payout ratio (DPR) is 11.85%.
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.
Featured Stories
- Five stocks we like better than Dr. Reddy’s Laboratories
- How to Invest in the Healthcare Sector
- MarketBeat Week in Review – 8/28 – 9/1
- How Can Investors Benefit From After-Hours Trading
- 2 Stocks That Doubled EPS Estimates and Flashing Buy Signals
- Short Selling: How to Short a Stock
- Toyota vs Tesla: The Tortoise And The Hare Race Has A New Meaning
Receive News & Ratings for Dr. Reddy's Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dr. Reddy's Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.
