Dr. Reddy’s Laboratories Limited (NYSE:RDY) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. grew its position in Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 8.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,543 shares of the company’s stock after purchasing an additional 6,406 shares during the period. American Century Companies Inc. owned approximately 0.05% of Dr. Reddy’s Laboratories worth $4,873,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in shares of Dr. Reddy’s Laboratories by 1.5% in 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 in the last quarter. Lindbrook Capital LLC lifted its position 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 worth $173,000 after acquiring an additional 250 shares in the last quarter. Janiczek Wealth Management LLC lifted its position 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 worth $184,000 after acquiring an additional 264 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in 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 worth $590,000 after acquiring an additional 342 shares during the period. Finally, DGS Capital Management LLC boosted its holdings 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 acquiring an additional 382 shares during the period. 12.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RDY has been the subject of a number of analyst reports. StockNews.com initiated coverage on Dr. Reddy’s Laboratories in a report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Barclays upped their price target on Dr. Reddy’s Laboratories from $67.00 to $70.00 in a report on Thursday, June 1st. HSBC cut Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Sanford C. Bernstein cut Dr. Reddy’s Laboratories from an “outperform” rating to a “market perform” rating in a report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $70.00.

Dr. Reddy’s Laboratories Stock Performance

Dr. Reddy’s Laboratories stock opened at $67.03 on Thursday. The stock has a market cap of $11.18 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The company has a current ratio of 2.60, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average of $67.32 and a 200-day moving average of $60.60. Dr. Reddy’s Laboratories Limited has a 52 week low of $49.79 and a 52 week high of $73.17.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its 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 during the quarter, compared to analysts’ expectations of $790.67 million. Dr. Reddy’s Laboratories had a return on equity of 20.94% and a net margin of 18.11%. On average, analysts expect that Dr. Reddy’s Laboratories Limited will post 3.74 EPS for the current fiscal year.

Dr. Reddy’s Laboratories Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, July 28th. Investors of record on Friday, January 1st were paid a dividend of $0.4877 per share. The ex-dividend date was Friday, July 28th. This is a boost from Dr. Reddy’s Laboratories’s previous annual dividend of $0.33. This represents a 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.