Taro Pharmaceutical Industries (NYSE:TARO) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a research report sent to investors on Wednesday morning. The firm 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 target price for the company. in a research note on Thursday, January 18th.

Taro Pharmaceutical Industries Stock Performance

Shares of TARO opened at $42.13 on Wednesday. Taro Pharmaceutical Industries has a fifty-two week low of $23.92 and a fifty-two week high of $45.76. The business has a 50-day moving average of $42.24 and a 200 day moving average of $39.53. The firm has a market cap of $1.58 billion, a P/E ratio of 34.53 and a beta of 0.61.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Harvest Management LLC grew its stake in Taro Pharmaceutical Industries by 3.9% in the 4th quarter. Harvest Management LLC now owns 7,380 shares of the company’s stock worth $308,000 after buying an additional 274 shares in the last quarter. Bank of New York Mellon Corp raised its position in Taro Pharmaceutical Industries by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 22,223 shares of the company’s stock valued at $838,000 after purchasing an additional 307 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Taro Pharmaceutical Industries by 5.3% in the 4th quarter. Legal & General Group Plc now owns 6,732 shares of the company’s stock worth $195,000 after purchasing an additional 339 shares in the last quarter. UBS Group AG increased its position in shares of Taro Pharmaceutical Industries by 71.6% during the 2nd quarter. UBS Group AG now owns 925 shares of the company’s stock valued at $34,000 after purchasing an additional 386 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Taro Pharmaceutical Industries by 2.0% during the 2nd quarter. Swiss National Bank now owns 20,900 shares of the company’s stock valued at $793,000 after buying an additional 400 shares in the last quarter. 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.