OLD Mission Capital LLC Buys 18,930 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

OLD Mission Capital LLC grew its stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 66.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,537 shares of the company’s stock after purchasing an additional 18,930 shares during the period. OLD Mission Capital LLC’s holdings in Dr. Reddy’s Laboratories were worth $3,487,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RDY. Assenagon Asset Management S.A. lifted its stake in shares of Dr. Reddy’s Laboratories by 416.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 196,146 shares of the company’s stock valued at $13,648,000 after purchasing an additional 158,141 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Dr. Reddy’s Laboratories by 77.6% in the 4th quarter. Schroder Investment Management Group now owns 266,653 shares of the company’s stock valued at $18,554,000 after purchasing an additional 116,488 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Dr. Reddy’s Laboratories by 126.5% in the 4th quarter. Fisher Asset Management LLC now owns 205,280 shares of the company’s stock valued at $14,283,000 after purchasing an additional 114,630 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Dr. Reddy’s Laboratories in the 1st quarter valued at approximately $6,543,000. Finally, Bessemer Group Inc. bought a new stake in shares of Dr. Reddy’s Laboratories in the 1st quarter valued at approximately $5,764,000. 14.02% of the stock is owned by institutional investors.

Dr. Reddy’s Laboratories Trading Up 0.5 %

Shares of RDY stock traded up $0.43 on Friday, reaching $81.27. 193,843 shares of the company’s stock were exchanged, compared to its average volume of 225,780. The company has a current ratio of 2.58, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $73.76 and its 200 day simple moving average is $73.16. The stock has a market capitalization of $13.56 billion, a PE ratio of 20.19, a P/E/G ratio of 1.80 and a beta of 0.56. Dr. Reddy’s Laboratories Limited has a 52 week low of $63.72 and a 52 week high of $81.98.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its earnings results on Tuesday, May 7th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. Dr. Reddy’s Laboratories had a return on equity of 21.32% and a net margin of 19.97%. The business had revenue of $850.00 million during the quarter, compared to analyst estimates of $825.20 million. As a group, analysts forecast that Dr. Reddy’s Laboratories Limited will post 4.03 EPS for the current year.

Dr. Reddy’s Laboratories Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Friday, January 1st will be issued a $0.4069 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a dividend yield of 0.5%. Dr. Reddy’s Laboratories’s dividend payout ratio is presently 10.17%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays raised their price target on Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. StockNews.com lowered Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 16th.

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.