Abacus Wealth Partners LLC Makes New Investment in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Abacus Wealth Partners LLC bought a new position in shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,120 shares of the company’s stock, valued at approximately $160,000.

Several other institutional investors and hedge funds have also made changes to their positions in RDY. Farther Finance Advisors LLC grew its position in shares of Dr. Reddy’s Laboratories by 43.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock worth $36,000 after buying an additional 137 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Dr. Reddy’s Laboratories by 6.8% in 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. Van ECK Associates Corp grew its holdings in Dr. Reddy’s Laboratories by 64.3% during the 3rd quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock worth $64,000 after acquiring an additional 322 shares in the last quarter. Aprio Wealth Management LLC increased its position in Dr. Reddy’s Laboratories by 14.2% during the 3rd quarter. Aprio Wealth Management LLC now owns 3,055 shares of the company’s stock valued at $243,000 after purchasing an additional 380 shares during the period. Finally, Lifestyle Asset Management Inc. raised its holdings in shares of Dr. Reddy’s Laboratories by 3.2% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 13,689 shares of the company’s stock valued at $1,088,000 after purchasing an additional 422 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Dr. Reddy’s Laboratories Stock Up 0.5 %

Shares of Dr. Reddy’s Laboratories stock opened at $14.91 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The company has a market cap of $12.44 billion, a P/E ratio of 23.82 and a beta of 0.51. The firm’s 50 day moving average price is $14.86 and its 200-day moving average price is $15.55. Dr. Reddy’s Laboratories Limited has a 52-week low of $13.47 and a 52-week high of $16.89.

Wall Street Analyst Weigh In

RDY has been the topic of a number of recent research reports. Barclays dropped 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 downgraded Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Nomura lowered Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th.

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.