B. Riley Wealth Advisors Inc. Invests $490,000 in Dr. Reddy’s Laboratories Limited (NYSE:RDY)

B. Riley Wealth Advisors Inc. bought a new stake in Dr. Reddy’s Laboratories Limited (NYSE:RDY) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 6,170 shares of the company’s stock, valued at approximately $490,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of Dr. Reddy’s Laboratories by 43.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 454 shares of the company’s stock valued at $36,000 after acquiring an additional 137 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Dr. Reddy’s Laboratories in the third quarter valued at approximately $60,000. Van ECK Associates Corp increased its stake in Dr. Reddy’s Laboratories by 64.3% in the third quarter. Van ECK Associates Corp now owns 823 shares of the company’s stock valued at $64,000 after purchasing an additional 322 shares during the last quarter. GAMMA Investing LLC raised its holdings in Dr. Reddy’s Laboratories by 83.2% during the third quarter. GAMMA Investing LLC now owns 1,447 shares of the company’s stock worth $115,000 after purchasing an additional 657 shares in the last quarter. Finally, Wealthstream Advisors Inc. purchased a new stake in shares of Dr. Reddy’s Laboratories during the 2nd quarter worth approximately $203,000. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Dr. Reddy’s Laboratories Stock Performance

Shares of Dr. Reddy’s Laboratories stock opened at $15.12 on Friday. The stock has a market capitalization of $12.62 billion, a price-to-earnings ratio of 24.15 and a beta of 0.53. The firm’s fifty day simple moving average is $14.81 and its 200-day simple moving average is $15.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.36. Dr. Reddy’s Laboratories Limited has a 12 month low of $13.26 and a 12 month high of $16.89.

Analysts Set New Price Targets

Several equities research analysts recently commented on RDY shares. Nomura lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research note on Thursday. StockNews.com cut Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Barclays decreased their target price on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, November 6th.

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.