Dr. Reddy’s Laboratories Limited (NYSE:RDY) Shares Sold by Thomas White International Ltd.

Thomas White International Ltd. trimmed its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 3.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,218 shares of the company’s stock after selling 2,662 shares during the period. Thomas White International Ltd.’s holdings in Dr. Reddy’s Laboratories were worth $3,827,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CWM LLC grew its stake in Dr. Reddy’s Laboratories by 43.4% in the first quarter. CWM LLC now owns 1,635 shares of the company’s stock worth $93,000 after purchasing an additional 495 shares in the last quarter. Ronald Blue Trust Inc. grew its stake in Dr. Reddy’s Laboratories by 49.2% in the first quarter. Ronald Blue Trust Inc. now owns 2,092 shares of the company’s stock worth $108,000 after purchasing an additional 690 shares in the last quarter. Lindbrook Capital LLC grew its stake in Dr. Reddy’s Laboratories by 9.0% in the first quarter. Lindbrook Capital LLC now owns 3,041 shares of the company’s stock worth $173,000 after purchasing an additional 250 shares in the last quarter. Janiczek Wealth Management LLC boosted its stake in Dr. Reddy’s Laboratories by 9.4% in 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 during the period. Finally, Assetmark Inc. boosted its stake in Dr. Reddy’s Laboratories by 364.4% in the first quarter. Assetmark Inc. now owns 3,395 shares of the company’s stock valued at $193,000 after acquiring an additional 2,664 shares during the period. 12.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. HSBC downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Barclays lifted their target price on Dr. Reddy’s Laboratories from $67.00 to $70.00 in a research note on Thursday, June 1st. Sanford C. Bernstein downgraded Dr. Reddy’s Laboratories from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 18th. Finally, StockNews.com started coverage on Dr. Reddy’s Laboratories in a research note on Thursday, August 17th. They issued a “strong-buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Dr. Reddy’s Laboratories currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY traded up $0.51 during mid-day trading on Friday, reaching $67.80. 208,976 shares of the company’s stock traded hands, compared to its average volume of 353,586. The business’s 50-day moving average price is $67.51 and its 200-day moving average price is $60.74. The stock has a market capitalization of $11.31 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.95 and a current ratio of 2.60. Dr. Reddy’s Laboratories Limited has a 12 month low of $49.79 and a 12 month high of $73.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its earnings results on Wednesday, July 26th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.71 by $0.32. Dr. Reddy’s Laboratories had a return on equity of 20.94% and a net margin of 18.11%. The firm had revenue of $820.20 million for the quarter, compared to analysts’ expectations of $790.67 million. Equities analysts predict that Dr. Reddy’s Laboratories Limited will post 3.79 earnings per share for the current year.

Dr. Reddy’s Laboratories Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, July 28th. Investors of record on Friday, January 1st were issued 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 was Friday, July 28th. This represents a yield of 0.7%. Dr. Reddy’s Laboratories’s payout ratio is presently 11.85%.

About Dr. Reddy’s Laboratories

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.