Taro Pharmaceutical Industries (NYSE:TARO) Research Coverage Started at StockNews.com

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

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

Taro Pharmaceutical Industries Stock Performance

NYSE:TARO opened at $42.28 on Friday. Taro Pharmaceutical Industries has a 1 year low of $24.39 and a 1 year high of $45.76. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 34.66 and a beta of 0.61. The stock has a fifty day moving average price of $42.13 and a two-hundred day moving average price of $39.89.

Taro Pharmaceutical Industries (NYSE:TARO) last issued its earnings results on Thursday, January 25th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.26. The company had revenue of $157.15 million during the quarter, compared to analysts’ expectations of $154.90 million. Taro Pharmaceutical Industries had a net margin of 7.48% and a return on equity of 3.26%. On average, analysts predict that Taro Pharmaceutical Industries will post 1.38 EPS for the current year.

Hedge Funds Weigh In On Taro Pharmaceutical Industries

A number of institutional investors have recently modified their holdings of the company. Barclays PLC acquired a new position in Taro Pharmaceutical Industries in the 2nd quarter valued at $190,000. SG Americas Securities LLC acquired a new stake in Taro Pharmaceutical Industries in the 3rd quarter worth about $141,000. Bank of New York Mellon Corp increased its stake in shares of Taro Pharmaceutical Industries by 1.4% during 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 during the last quarter. Strs Ohio lifted its holdings in shares of Taro Pharmaceutical Industries by 58.8% during the 3rd quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $101,000 after acquiring an additional 1,000 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Taro Pharmaceutical Industries in the third quarter valued at approximately $65,000. Institutional investors and hedge funds own 91.40% of the company’s stock.

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.