Taro Pharmaceutical Industries (NYSE:TARO) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a research note issued to investors on Saturday. The brokerage set a “strong-buy” rating on the stock.

Separately, HC Wainwright cut 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 Price Performance

Shares of Taro Pharmaceutical Industries stock opened at $42.40 on Friday. The business’s fifty day moving average price is $42.14 and its two-hundred day moving average price is $40.01. The company has a market capitalization of $1.59 billion, a P/E ratio of 34.75 and a beta of 0.61. Taro Pharmaceutical Industries has a 1-year low of $24.69 and a 1-year high of $45.76.

Taro Pharmaceutical Industries (NYSE:TARO) last announced its earnings results on Thursday, January 25th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.26. The firm had revenue of $157.15 million for the quarter, compared to the consensus estimate of $154.90 million. Taro Pharmaceutical Industries had a return on equity of 3.26% and a net margin of 7.48%. On average, research analysts expect that Taro Pharmaceutical Industries will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taro Pharmaceutical Industries

Several hedge funds have recently modified their holdings of TARO. Brandes Investment Partners LP grew its holdings in shares of Taro Pharmaceutical Industries by 0.7% in the 4th quarter. Brandes Investment Partners LP now owns 475,741 shares of the company’s stock worth $19,876,000 after acquiring an additional 3,253 shares during the last quarter. Invesco Ltd. acquired a new position in shares of Taro Pharmaceutical Industries in the 3rd quarter worth $9,995,000. UBS Group AG grew 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 worth $2,043,000 after acquiring an additional 19,588 shares during the last quarter. Bank of New York Mellon Corp grew 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 worth $838,000 after acquiring an additional 307 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of Taro Pharmaceutical Industries by 385.2% in the 4th quarter. Strs Ohio now owns 13,100 shares of the company’s stock worth $547,000 after acquiring an additional 10,400 shares during the last quarter. 91.40% of the stock is currently owned by institutional investors and hedge funds.

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.