Taro Pharmaceutical Industries (NYSE:TARO) Stock Price Passes Above 200-Day Moving Average of $40.01

Taro Pharmaceutical Industries Ltd. (NYSE:TARO)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $40.01 and traded as high as $42.49. Taro Pharmaceutical Industries shares last traded at $42.40, with a volume of 27,051 shares traded.

Analyst Ratings Changes

A number of brokerages recently issued reports on TARO. HC Wainwright downgraded Taro Pharmaceutical Industries from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research report on Thursday, January 18th. StockNews.com began coverage on Taro Pharmaceutical Industries in a research report on Saturday. They issued a “strong-buy” rating on the stock.

Taro Pharmaceutical Industries Stock Down 0.2 %

The stock has a market cap of $1.59 billion, a PE ratio of 34.75 and a beta of 0.61. The company has a fifty day moving average price of $42.14 and a 200 day moving average price of $40.01.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Harvest Management LLC boosted its position in Taro Pharmaceutical Industries by 3.9% during the 4th quarter. Harvest Management LLC now owns 7,380 shares of the company’s stock valued at $308,000 after acquiring an additional 274 shares in the last quarter. Bank of New York Mellon Corp boosted its position 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 valued at $838,000 after acquiring an additional 307 shares in the last quarter. SG Americas Securities LLC boosted its position in Taro Pharmaceutical Industries by 24.5% during the 4th quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $195,000 after acquiring an additional 921 shares in the last quarter. Strs Ohio boosted its position in Taro Pharmaceutical Industries by 58.8% during the 3rd quarter. Strs Ohio now owns 2,700 shares of the company’s stock valued at $101,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Taro Pharmaceutical Industries during the 3rd quarter valued at approximately $65,000. Hedge funds and other institutional investors own 91.40% of the company’s stock.

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.