StockNews.com Begins Coverage on Taro Pharmaceutical Industries (NYSE:TARO)

Analysts at StockNews.com initiated coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a report issued on Friday. The firm set a “strong-buy” rating on the stock.

Separately, HC Wainwright cut shares of Taro Pharmaceutical Industries from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Thursday, January 18th.

Taro Pharmaceutical Industries Stock Up 0.0 %

Shares of NYSE TARO opened at $42.25 on Friday. Taro Pharmaceutical Industries has a fifty-two week low of $24.22 and a fifty-two week high of $45.76. The firm’s 50-day simple moving average is $42.13 and its 200 day simple moving average is $39.78. The stock has a market cap of $1.59 billion, a P/E ratio of 34.63 and a beta of 0.61.

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

Institutional Investors Weigh In On Taro Pharmaceutical Industries

Several hedge funds and other institutional investors have recently bought and sold shares of TARO. Harvest Management LLC raised its holdings in Taro Pharmaceutical Industries by 3.9% during the 4th quarter. Harvest Management LLC now owns 7,380 shares of the company’s stock worth $308,000 after buying an additional 274 shares during the period. Bank of New York Mellon Corp raised its holdings in Taro Pharmaceutical Industries by 1.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 22,223 shares of the company’s stock worth $838,000 after buying an additional 307 shares during the period. Legal & General Group Plc raised its holdings in Taro Pharmaceutical Industries by 5.3% during the 4th quarter. Legal & General Group Plc now owns 6,732 shares of the company’s stock worth $195,000 after buying an additional 339 shares during the period. UBS Group AG raised its holdings in Taro Pharmaceutical Industries by 71.6% during the 2nd quarter. UBS Group AG now owns 925 shares of the company’s stock worth $34,000 after buying an additional 386 shares during the period. Finally, Swiss National Bank raised its holdings in Taro Pharmaceutical Industries by 2.0% during the 2nd quarter. Swiss National Bank now owns 20,900 shares of the company’s stock worth $793,000 after buying an additional 400 shares during the period. 91.40% of the stock is currently owned by 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.