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

StockNews.com began coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a research note released on Tuesday morning. The brokerage issued a strong-buy rating on the stock.

Separately, 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 note on Thursday, January 18th.

Taro Pharmaceutical Industries Price Performance

TARO opened at $42.34 on Tuesday. Taro Pharmaceutical Industries has a fifty-two week low of $22.89 and a fifty-two week high of $45.76. The business has a 50-day moving average of $42.29 and a 200-day moving average of $39.36. The company has a market capitalization of $1.59 billion, a PE ratio of 34.70 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 return on equity of 3.26% and a net margin of 7.48%. The business had revenue of $157.15 million for the quarter, compared to the consensus estimate of $154.90 million. On average, equities research analysts expect that Taro Pharmaceutical Industries will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new stake in Taro Pharmaceutical Industries in the 2nd quarter valued at approximately $26,000. UBS Group AG grew its holdings in Taro Pharmaceutical Industries by 71.6% in the 2nd quarter. UBS Group AG now owns 925 shares of the company’s stock valued at $34,000 after buying an additional 386 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Taro Pharmaceutical Industries by 5,988.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,035 shares of the company’s stock valued at $39,000 after buying an additional 1,018 shares during the last quarter. Royal Bank of Canada grew its holdings in Taro Pharmaceutical Industries by 664.0% in the 2nd quarter. Royal Bank of Canada now owns 1,039 shares of the company’s stock valued at $39,000 after buying an additional 903 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Taro Pharmaceutical Industries by 126.5% in the 1st quarter. Bank of America Corp DE now owns 1,506 shares of the company’s stock valued at $37,000 after buying an additional 841 shares during the last quarter. 91.40% of the stock is 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.