Virtus Advisers LLC Purchases Shares of 118,945 Dr. Reddy’s Laboratories Ltd $RDY

Virtus Advisers LLC acquired a new position in shares of Dr. Reddy’s Laboratories Ltd (NYSE:RDY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 118,945 shares of the company’s stock, valued at approximately $1,788,000. Dr. Reddy’s Laboratories makes up about 2.4% of Virtus Advisers LLC’s investment portfolio, making the stock its 11th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Dr. Reddy’s Laboratories by 157.7% in the second quarter. JPMorgan Chase & Co. now owns 5,910,786 shares of the company’s stock worth $88,839,000 after purchasing an additional 3,617,435 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Dr. Reddy’s Laboratories by 58.0% in the 1st quarter. BNP Paribas Financial Markets now owns 4,583,333 shares of the company’s stock valued at $60,454,000 after buying an additional 1,682,363 shares in the last quarter. Millennium Management LLC raised its stake in shares of Dr. Reddy’s Laboratories by 53.1% in the 1st quarter. Millennium Management LLC now owns 4,344,000 shares of the company’s stock valued at $57,297,000 after buying an additional 1,506,368 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Dr. Reddy’s Laboratories by 13.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 12,163,428 shares of the company’s stock worth $182,816,000 after acquiring an additional 1,452,192 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Dr. Reddy’s Laboratories by 43.8% during the 2nd quarter. Acadian Asset Management LLC now owns 2,116,358 shares of the company’s stock valued at $31,798,000 after acquiring an additional 644,835 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Trading Up 0.4%

Shares of RDY stock opened at $14.05 on Monday. The company has a market capitalization of $11.73 billion, a P/E ratio of 17.35, a P/E/G ratio of 6.22 and a beta of 0.37. Dr. Reddy’s Laboratories Ltd has a 12-month low of $12.26 and a 12-month high of $16.17. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $14.05 and a 200 day moving average price of $14.43.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings data on Friday, October 24th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. Dr. Reddy’s Laboratories had a net margin of 17.14% and a return on equity of 17.13%. The firm had revenue of $21.35 million for the quarter, compared to analysts’ expectations of $944.26 million. Research analysts forecast that Dr. Reddy’s Laboratories Ltd will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Dr. Reddy’s Laboratories in a research report on Wednesday, October 8th. Zacks Research upgraded Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.90.

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, as well as engages in the biologics business.