StockNews.com Initiates Coverage on Taro Pharmaceutical Industries (NYSE:TARO)

StockNews.com started coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a research note published on Sunday. The brokerage issued a strong-buy rating on the stock.

Taro Pharmaceutical Industries Price Performance

TARO stock opened at $42.97 on Friday. The stock has a market capitalization of $1.62 billion, a P/E ratio of 29.84 and a beta of 0.56. The firm has a 50-day simple moving average of $42.66 and a 200-day simple moving average of $42.29. Taro Pharmaceutical Industries has a 52 week low of $32.67 and a 52 week high of $45.76.

Taro Pharmaceutical Industries (NYSE:TARO) last released its earnings results on Monday, May 20th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. The business had revenue of $164.94 million during the quarter, compared to analysts’ expectations of $156.10 million. Taro Pharmaceutical Industries had a net margin of 8.56% and a return on equity of 3.75%.

Institutional Trading of Taro Pharmaceutical Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Crystalline Management Inc. purchased a new stake in shares of Taro Pharmaceutical Industries during the fourth quarter worth about $297,000. Strs Ohio grew its stake in Taro Pharmaceutical Industries by 385.2% during the 4th quarter. Strs Ohio now owns 13,100 shares of the company’s stock valued at $547,000 after acquiring an additional 10,400 shares in the last quarter. SG Americas Securities LLC grew its stake in Taro Pharmaceutical Industries by 24.5% during the 4th quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $195,000 after acquiring an additional 921 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Taro Pharmaceutical Industries during the 4th quarter valued at about $105,000. Finally, PenderFund Capital Management Ltd. purchased a new stake in Taro Pharmaceutical Industries during the 4th quarter valued at about $92,000. Hedge funds and other institutional investors own 91.40% of the company’s stock.

Taro Pharmaceutical Industries Company Profile

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.