Taro Pharmaceutical Industries (NYSE:TARO) Posts Earnings Results, Misses Expectations By $0.15 EPS

Taro Pharmaceutical Industries (NYSE:TARO – Get Rating) issued its quarterly earnings results on Thursday. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15), MarketWatch Earnings reports. Taro Pharmaceutical Industries had a net margin of 0.19% and a return on equity of 7.33%. During the same quarter last year, the business posted $0.81 earnings per share.

Shares of TARO stock opened at $35.21 on Friday. The firm has a market cap of $1.32 billion, a PE ratio of 880.47 and a beta of 0.73. Taro Pharmaceutical Industries has a 12 month low of $33.58 and a 12 month high of $76.00. The company’s fifty day simple moving average is $40.12 and its 200-day simple moving average is $46.04.

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

Several large investors have recently bought and sold shares of the business. Morgan Stanley grew its position in shares of 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. Citadel Advisors LLC acquired a new stake in shares of Taro Pharmaceutical Industries in the third quarter valued at approximately $382,000. LPL Financial LLC increased its holdings in shares of Taro Pharmaceutical Industries by 5.0% during the 3rd quarter. LPL Financial LLC now owns 4,642 shares of the company’s stock worth $295,000 after acquiring an additional 223 shares during the last quarter. State Street Corp boosted its position in Taro Pharmaceutical Industries by 1.9% during the fourth quarter. State Street Corp now owns 52,194 shares of the company’s stock worth $2,615,000 after purchasing an additional 974 shares during the period. Finally, Sei Investments Co. raised its holdings in Taro Pharmaceutical Industries by 2.9% in the 4th quarter. Sei Investments Co. now owns 11,125 shares of the company’s stock valued at $557,000 after acquiring an additional 316 shares during the period. 12.28% of the stock is currently owned by hedge funds and other institutional investors.

About Taro Pharmaceutical Industries (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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