Allspring Global Investments Holdings LLC Increases Position in Taro Pharmaceutical Industries Ltd. (NYSE:TARO)

Allspring Global Investments Holdings LLC raised its position in Taro Pharmaceutical Industries Ltd. (NYSE:TARO) by 332.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,467 shares of the company’s stock after purchasing an additional 5,739 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Taro Pharmaceutical Industries were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Invesco Ltd. purchased a new stake in shares of Taro Pharmaceutical Industries in the 3rd quarter valued at approximately $9,995,000. UBS Group AG boosted its holdings in shares of Taro Pharmaceutical Industries by 56.6% in the 3rd quarter. UBS Group AG now owns 54,175 shares of the company’s stock valued at $2,043,000 after buying an additional 19,588 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 buying an additional 307 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Taro Pharmaceutical Industries in the 3rd quarter valued at $427,000. Finally, Alpine Global Management LLC acquired a new position in shares of Taro Pharmaceutical Industries in the 3rd quarter valued at $308,000. 91.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TARO has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of Taro Pharmaceutical Industries in a report on Saturday. They issued a “strong-buy” rating for the company. HC Wainwright downgraded shares of Taro Pharmaceutical Industries from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Thursday, January 18th.

Taro Pharmaceutical Industries Stock Performance

Shares of Taro Pharmaceutical Industries stock opened at $42.40 on Friday. The company has a market cap of $1.59 billion, a P/E ratio of 34.75 and a beta of 0.61. Taro Pharmaceutical Industries Ltd. has a one year low of $24.69 and a one year high of $45.76. The firm has a fifty day moving average of $42.14 and a two-hundred day moving average of $40.01.

Taro Pharmaceutical Industries (NYSE:TARO) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.26. The company had revenue of $157.15 million during the quarter, compared to the consensus estimate of $154.90 million. Taro Pharmaceutical Industries had a net margin of 7.48% and a return on equity of 3.26%. As a group, equities analysts predict that Taro Pharmaceutical Industries Ltd. will post 1.38 earnings per share for the current year.

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.