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 research report sent to investors on Wednesday morning. The brokerage issued a strong-buy rating on the stock.

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

Taro Pharmaceutical Industries Trading Up 0.4 %

NYSE:TARO opened at $42.29 on Wednesday. The company has a market cap of $1.59 billion, a P/E ratio of 34.66 and a beta of 0.61. Taro Pharmaceutical Industries has a twelve month low of $23.92 and a twelve month high of $45.76. The company’s 50-day moving average price is $42.29 and its 200-day moving average price is $39.49.

Taro Pharmaceutical Industries (NYSE:TARO) last released its earnings results on Thursday, January 25th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.26. The business had revenue of $157.15 million for 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%. On average, analysts expect that Taro Pharmaceutical Industries will post 1.38 earnings per share for the current year.

Hedge Funds Weigh In On Taro Pharmaceutical Industries

Institutional investors have recently bought and sold shares of the company. Krensavage Asset Management LLC acquired a new stake in shares of Taro Pharmaceutical Industries during the 1st quarter worth approximately $15,611,000. BlackRock Inc. increased its stake in Taro Pharmaceutical Industries by 265.5% during the second quarter. BlackRock Inc. now owns 581,838 shares of the company’s stock worth $22,069,000 after acquiring an additional 422,645 shares during the last quarter. Invesco Ltd. purchased a new stake in Taro Pharmaceutical Industries in the third quarter valued at $9,995,000. State Street Corp lifted its stake in shares of Taro Pharmaceutical Industries by 175.6% in 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 during the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Taro Pharmaceutical Industries during the 2nd quarter worth $3,131,000. 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.