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

Research analysts at StockNews.com assumed coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a note issued to investors on Saturday. The firm set 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 target price on the stock. in a research report on Thursday, January 18th.

Taro Pharmaceutical Industries Stock Performance

Shares of NYSE TARO opened at $42.40 on Friday. Taro Pharmaceutical Industries has a fifty-two week low of $24.69 and a fifty-two week high of $45.76. The firm has a market capitalization of $1.59 billion, a PE ratio of 34.75 and a beta of 0.61. The stock’s 50-day simple moving average is $42.14 and its 200-day simple moving average is $40.01.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TARO. SG Americas Securities LLC acquired a new position in Taro Pharmaceutical Industries during the third quarter worth approximately $141,000. Bank of New York Mellon Corp grew its stake in shares of Taro Pharmaceutical Industries by 1.4% in the 3rd 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 during the last quarter. Strs Ohio grew its stake in shares of Taro Pharmaceutical Industries by 58.8% in the 3rd quarter. Strs Ohio now owns 2,700 shares of the company’s stock valued at $101,000 after purchasing an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Taro Pharmaceutical Industries in the 3rd quarter valued at approximately $65,000. Finally, Metis Global Partners LLC purchased a new position in shares of Taro Pharmaceutical Industries in the 3rd quarter valued at approximately $262,000. Institutional investors and hedge funds 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.