Jump Financial LLC Grows Position in Dr. Reddy’s Laboratories Ltd $RDY

Jump Financial LLC lifted its holdings in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) by 534.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,111 shares of the company’s stock after buying an additional 123,911 shares during the period. Jump Financial LLC’s holdings in Dr. Reddy’s Laboratories were worth $1,940,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RDY. Wells Fargo & Company MN boosted its position in shares of Dr. Reddy’s Laboratories by 495.6% during the fourth quarter. Wells Fargo & Company MN now owns 7,826 shares of the company’s stock valued at $124,000 after buying an additional 6,512 shares during the last quarter. Marshall Wace LLP purchased a new stake in Dr. Reddy’s Laboratories during the fourth quarter valued at $213,000. First Trust Advisors LP purchased a new stake in Dr. Reddy’s Laboratories during the fourth quarter valued at $1,002,000. Dimensional Fund Advisors LP increased its position in Dr. Reddy’s Laboratories by 405.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,361,013 shares of the company’s stock valued at $84,643,000 after acquiring an additional 4,301,212 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Dr. Reddy’s Laboratories by 623.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,032 shares of the company’s stock valued at $48,000 after acquiring an additional 2,613 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on RDY shares. Hsbc Global Res upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 5th. Zacks Research upgraded Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. HSBC upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating and upped their price objective for the company from $14.44 to $16.90 in a research report on Thursday, June 5th. Finally, Wall Street Zen upgraded Dr. Reddy’s Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Dr. Reddy’s Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $16.95.

Dr. Reddy’s Laboratories Price Performance

NYSE RDY opened at $14.24 on Thursday. Dr. Reddy’s Laboratories Ltd has a fifty-two week low of $12.26 and a fifty-two week high of $16.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.36 and a current ratio of 1.89. The company has a market capitalization of $11.88 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 5.74 and a beta of 0.29. The business’s fifty day moving average is $14.53 and its 200 day moving average is $14.04.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $988.82 million during the quarter, compared to analyst estimates of $88.27 billion. Dr. Reddy’s Laboratories had a return on equity of 17.25% and a net margin of 16.99%. Sell-side analysts predict that Dr. Reddy’s Laboratories Ltd will post 0.8 earnings per share for the current year.

Dr. Reddy’s Laboratories Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, August 6th. Stockholders of record on Thursday, July 10th were paid a $0.0915 dividend. This represents a dividend yield of 62.4%. This is a positive change from Dr. Reddy’s Laboratories’s previous annual dividend of $0.08. The ex-dividend date of this dividend was Friday, July 25th. Dr. Reddy’s Laboratories’s dividend payout ratio is currently 10.61%.

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, as well as engages in the biologics business.