Millennium Management LLC Purchases 126,472 Shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Millennium Management LLC boosted its holdings in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) by 61.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,502 shares of the company’s stock after buying an additional 126,472 shares during the period. Millennium Management LLC’s holdings in Dr. Reddy’s Laboratories were worth $25,333,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Dr. Reddy’s Laboratories by 54.7% in the 1st quarter. GAMMA Investing LLC now owns 721 shares of the company’s stock valued at $53,000 after purchasing an additional 255 shares during the period. Contravisory Investment Management Inc. bought a new stake in Dr. Reddy’s Laboratories in the first quarter valued at $189,000. CWM LLC grew its position in Dr. Reddy’s Laboratories by 18.9% in the first quarter. CWM LLC now owns 2,584 shares of the company’s stock valued at $190,000 after acquiring an additional 410 shares during the period. Wealthstream Advisors Inc. acquired a new position in Dr. Reddy’s Laboratories during the second quarter worth $203,000. Finally, Legacy Capital Group California Inc. bought a new stake in shares of Dr. Reddy’s Laboratories in the 2nd quarter worth about $204,000. Institutional investors own 14.02% of the company’s stock.

Dr. Reddy’s Laboratories Stock Up 0.4 %

NYSE:RDY opened at $79.57 on Friday. The stock has a market cap of $13.28 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 1.75 and a beta of 0.55. The company has a current ratio of 2.55, a quick ratio of 1.90 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $81.17 and a two-hundred day moving average price of $75.92. Dr. Reddy’s Laboratories Limited has a 1 year low of $63.72 and a 1 year high of $84.46.

Dr. Reddy’s Laboratories (NYSE:RDY) last issued its quarterly earnings results on Saturday, July 27th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.10). Dr. Reddy’s Laboratories had a net margin of 19.28% and a return on equity of 20.32%. The business had revenue of $919.80 million during the quarter, compared to analyst estimates of $861.68 million. As a group, equities analysts expect that Dr. Reddy’s Laboratories Limited will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Barclays lifted their price target on shares of Dr. Reddy’s Laboratories from $81.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th.

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.