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

StockNews.com started coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a report published on Friday. The firm issued a strong-buy rating on the stock.

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

Taro Pharmaceutical Industries Stock Up 0.1 %

Shares of TARO stock opened at $42.25 on Friday. The company has a 50 day moving average of $42.13 and a 200-day moving average of $39.82. Taro Pharmaceutical Industries has a 12-month low of $24.39 and a 12-month high of $45.76. The firm has a market cap of $1.59 billion, a P/E ratio of 34.63 and a beta of 0.61.

Taro Pharmaceutical Industries (NYSE:TARO) last issued its quarterly earnings results 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. Taro Pharmaceutical Industries had a net margin of 7.48% and a return on equity of 3.26%. The company had revenue of $157.15 million during the quarter, compared to analyst estimates of $154.90 million. As a group, equities analysts expect that Taro Pharmaceutical Industries will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TARO. Krensavage Asset Management LLC purchased a new position in Taro Pharmaceutical Industries in the 1st quarter valued at approximately $15,611,000. BlackRock Inc. grew its position in shares of Taro Pharmaceutical Industries by 265.5% during the 2nd quarter. BlackRock Inc. now owns 581,838 shares of the company’s stock valued at $22,069,000 after purchasing an additional 422,645 shares in the last quarter. Invesco Ltd. purchased a new position in shares of Taro Pharmaceutical Industries during the 3rd quarter valued at $9,995,000. State Street Corp grew its position in shares of Taro Pharmaceutical Industries by 175.6% during the 2nd quarter. State Street Corp now owns 159,526 shares of the company’s stock valued at $6,051,000 after purchasing an additional 101,633 shares in the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Taro Pharmaceutical Industries during the 2nd quarter valued at $3,131,000. 91.40% of the stock is currently 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.