Taro Pharmaceutical Industries (NYSE:TARO) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a research report released on Saturday morning. The brokerage issued a strong-buy rating on the stock.

Separately, HC Wainwright downgraded Taro Pharmaceutical Industries from a buy rating to a neutral rating and set a $43.00 price target for the company. in a research note on Thursday, January 18th.

Taro Pharmaceutical Industries Trading Down 0.2 %

Shares of Taro Pharmaceutical Industries stock opened at $42.40 on Friday. The stock has a 50-day moving average price of $42.14 and a 200 day moving average price of $40.03. The company has a market cap of $1.59 billion, a P/E ratio of 34.75 and a beta of 0.61. Taro Pharmaceutical Industries has a 1 year low of $24.69 and a 1 year high of $45.76.

Taro Pharmaceutical Industries (NYSE:TARO) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.26. The firm had revenue of $157.15 million during the quarter, compared to the consensus estimate of $154.90 million. Taro Pharmaceutical Industries had a return on equity of 3.26% and a net margin of 7.48%. On average, equities analysts forecast that Taro Pharmaceutical Industries will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Taro Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in TARO. SG Americas Securities LLC purchased a new stake in shares of Taro Pharmaceutical Industries during the 3rd quarter worth about $141,000. Bank of New York Mellon Corp raised its stake in shares of Taro Pharmaceutical Industries by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 22,223 shares of the company’s stock valued at $838,000 after acquiring an additional 307 shares in the last quarter. Strs Ohio raised its stake in shares of Taro Pharmaceutical Industries by 58.8% in the 3rd quarter. Strs Ohio now owns 2,700 shares of the company’s stock valued at $101,000 after acquiring an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Taro Pharmaceutical Industries in the 3rd quarter valued at approximately $65,000. Finally, Metis Global Partners LLC bought a new position in shares of Taro Pharmaceutical Industries in the 3rd quarter valued at approximately $262,000. 91.40% of the stock is owned by hedge funds and other institutional investors.

About Taro Pharmaceutical Industries

Taro Pharmaceutical Industries Ltd., a science-based pharmaceutical company, develops, manufactures, and markets prescription and over-the-counter pharmaceutical products in the United States, Canada, Israel, and internationally. The company also develops and manufactures active pharmaceutical ingredients primarily for use in its finished dosage form products.