Taro Pharmaceutical Industries Ltd. (NYSE:TARO) Short Interest Down 17.4% in April

Taro Pharmaceutical Industries Ltd. (NYSE:TAROGet Rating) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 78,300 shares, a decrease of 17.4% from the March 31st total of 94,800 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average trading volume of 17,300 shares, the days-to-cover ratio is currently 4.5 days.

A number of institutional investors and hedge funds have recently bought and sold shares of TARO. Morgan Stanley raised its stake in Taro Pharmaceutical Industries by 226.0% in the 2nd quarter. Morgan Stanley now owns 49,013 shares of the company’s stock valued at $3,527,000 after acquiring an additional 33,979 shares during the period. BlackRock Inc. increased its position in Taro Pharmaceutical Industries by 3.2% during the 3rd quarter. BlackRock Inc. now owns 173,653 shares of the company’s stock worth $11,048,000 after buying an additional 5,323 shares during the period. Citigroup Inc. increased its position in Taro Pharmaceutical Industries by 680.6% during the 3rd quarter. Citigroup Inc. now owns 4,473 shares of the company’s stock worth $285,000 after buying an additional 3,900 shares during the period. American Century Companies Inc. increased its position in Taro Pharmaceutical Industries by 46.4% during the 3rd quarter. American Century Companies Inc. now owns 4,511 shares of the company’s stock worth $287,000 after buying an additional 1,429 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in Taro Pharmaceutical Industries during the 3rd quarter worth $76,000. Institutional investors and hedge funds own 12.28% of the company’s stock.

TARO has been the subject of a number of recent research reports. Zacks Investment Research raised Taro Pharmaceutical Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. StockNews.com began coverage on Taro Pharmaceutical Industries in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, HC Wainwright cut their price objective on Taro Pharmaceutical Industries from $75.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 31st.

NYSE TARO opened at $39.28 on Wednesday. Taro Pharmaceutical Industries has a 12 month low of $38.34 and a 12 month high of $76.46. The firm has a 50 day moving average of $43.53. The firm has a market cap of $1.48 billion, a P/E ratio of 982.25 and a beta of 0.73.

Taro Pharmaceutical Industries Company Profile (Get Rating)

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.

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