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

Taro Pharmaceutical Industries (NYSE:TAROGet 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.

Further Reading

Earnings History for Taro Pharmaceutical Industries (NYSE:TARO)

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