Taro Pharmaceutical Industries (NYSE:TARO) Reaches New 12-Month Low at $33.43

Shares of Taro Pharmaceutical Industries Ltd. (NYSE:TARO – Get Rating) hit a new 52-week low on Thursday . The company traded as low as $33.43 and last traded at $34.00, with a volume of 68 shares changing hands. The stock had previously closed at $34.22.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Taro Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 7th.

Taro Pharmaceutical Industries Price Performance

The business’s 50-day moving average price is $36.90 and its 200 day moving average price is $40.97. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 14.69 and a beta of 0.66.

Taro Pharmaceutical Industries (NYSE:TARO – Get Rating) last posted its earnings results on Thursday, May 26th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Taro Pharmaceutical Industries had a return on equity of 5.45% and a net margin of 15.96%. The firm had revenue of $143.26 million for the quarter, compared to analyst estimates of $147.00 million. During the same period in the previous year, the firm posted $0.81 earnings per share. As a group, sell-side analysts expect that Taro Pharmaceutical Industries Ltd. will post 3.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC increased its stake in shares of Taro Pharmaceutical Industries by 12.8% in the first quarter. ARK Investment Management LLC now owns 55,566 shares of the company’s stock worth $2,404,000 after buying an additional 6,307 shares during the last quarter. Murchinson Ltd. increased its stake in shares of Taro Pharmaceutical Industries by 59.2% in the fourth quarter. Murchinson Ltd. now owns 159,203 shares of the company’s stock worth $7,978,000 after buying an additional 59,203 shares during the last quarter. Invesco Ltd. increased its stake in shares of Taro Pharmaceutical Industries by 6.0% in the fourth quarter. Invesco Ltd. now owns 274,654 shares of the company’s stock worth $13,763,000 after buying an additional 15,595 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Taro Pharmaceutical Industries by 20.8% in the first quarter. American Century Companies Inc. now owns 6,048 shares of the company’s stock worth $262,000 after buying an additional 1,043 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Taro Pharmaceutical Industries by 141.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,900 shares of the company’s stock worth $125,000 after buying an additional 1,700 shares during the last quarter. 12.28% of the stock is owned by institutional investors and hedge funds.

Taro Pharmaceutical Industries Company Profile

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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.