Creative Planning lifted its holdings in Dr. Reddy’s Laboratories Limited (NYSE:RDY – Free Report) by 39.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,530 shares of the company’s stock after buying an additional 8,306 shares during the quarter. Creative Planning’s holdings in Dr. Reddy’s Laboratories were worth $1,864,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Envestnet Asset Management Inc. grew its position 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 valued at $648,000 after purchasing an additional 187 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Dr. Reddy’s Laboratories by 9.0% during the 1st quarter. Lindbrook Capital LLC now owns 3,041 shares of the company’s stock valued at $173,000 after acquiring an additional 250 shares during the period. Janiczek Wealth Management LLC lifted its stake in Dr. Reddy’s Laboratories by 9.4% during the 1st 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 during the period. Stifel Financial Corp lifted its stake in Dr. Reddy’s Laboratories by 7.2% during the 1st quarter. Stifel Financial Corp now owns 5,522 shares of the company’s stock valued at $314,000 after acquiring an additional 373 shares during the period. Finally, DGS Capital Management LLC lifted its stake in Dr. Reddy’s Laboratories by 6.0% during the 4th quarter. DGS Capital Management LLC now owns 6,782 shares of the company’s stock valued at $351,000 after acquiring an additional 382 shares during the period. 12.42% of the stock is owned by hedge funds and other institutional investors.
Dr. Reddy’s Laboratories Price Performance
Shares of NYSE:RDY opened at $67.39 on Thursday. The firm’s 50 day moving average price is $68.74 and its 200-day moving average price is $62.88. Dr. Reddy’s Laboratories Limited has a twelve month low of $50.46 and a twelve month high of $73.17. The company has a quick ratio of 1.95, a current ratio of 2.60 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11.24 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.94 and a beta of 0.54.
Dr. Reddy’s Laboratories Increases Dividend
The company also recently announced an annual dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, January 1st were paid a dividend of $0.4877 per share. This is a boost from Dr. Reddy’s Laboratories’s previous annual dividend of $0.33. The ex-dividend date of this dividend was Friday, July 28th. This represents a yield of 0.7%. Dr. Reddy’s Laboratories’s dividend payout ratio (DPR) is presently 11.85%.
Analyst Ratings Changes
RDY has been the topic of several research analyst reports. StockNews.com began coverage on shares of Dr. Reddy’s Laboratories in a research note on Thursday, October 5th. They set a “strong-buy” rating on the stock. HSBC cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Dr. Reddy’s Laboratories presently has a consensus rating of “Hold” and an average target price of $70.00.
Check Out Our Latest Stock Report on RDY
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.
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