Virtu Financial LLC Makes New $276,000 Investment in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Virtu Financial LLC acquired a new stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) in the 3rd quarter, Holdings Channel reports. The fund acquired 3,476 shares of the company’s stock, valued at approximately $276,000.

A number of other hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in Dr. Reddy’s Laboratories by 43.2% in the third quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock worth $36,000 after purchasing an additional 137 shares during the period. Augustine Asset Management Inc. lifted its holdings in shares of Dr. Reddy’s Laboratories by 0.4% in the second quarter. Augustine Asset Management Inc. now owns 50,624 shares of the company’s stock valued at $3,857,000 after buying an additional 181 shares during the period. Lester Murray Antman dba SimplyRich boosted its stake in Dr. Reddy’s Laboratories by 3.1% during the second quarter. Lester Murray Antman dba SimplyRich now owns 6,178 shares of the company’s stock valued at $470,000 after buying an additional 184 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Dr. Reddy’s Laboratories by 6.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,945 shares of the company’s stock worth $377,000 after acquiring an additional 316 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Dr. Reddy’s Laboratories by 64.3% in the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after acquiring an additional 322 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RDY. Barclays lowered their price objective on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th.

Dr. Reddy’s Laboratories Trading Down 1.5 %

NYSE:RDY opened at $14.48 on Wednesday. The stock has a fifty day simple moving average of $14.86 and a 200 day simple moving average of $15.38. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 22.98 and a beta of 0.53. Dr. Reddy’s Laboratories Limited has a 1-year low of $13.26 and a 1-year high of $16.89. The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.

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.