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

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

Taro Pharmaceutical Industries Stock Performance

NYSE:TARO opened at $42.74 on Friday. The company has a market cap of $1.61 billion, a PE ratio of 29.68 and a beta of 0.56. Taro Pharmaceutical Industries has a 52-week low of $32.67 and a 52-week high of $45.76. The stock has a 50-day simple moving average of $42.47 and a 200 day simple moving average of $41.96.

Taro Pharmaceutical Industries (NYSE:TARO) last posted its quarterly earnings results on Monday, May 20th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. The firm had revenue of $164.94 million during the quarter, compared to the consensus estimate of $156.10 million. Taro Pharmaceutical Industries had a return on equity of 3.75% and a net margin of 8.56%.

Institutional Trading of Taro Pharmaceutical Industries

Several hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in Taro Pharmaceutical Industries in the 1st quarter valued at $84,000. PenderFund Capital Management Ltd. acquired a new position in Taro Pharmaceutical Industries in the 4th quarter valued at $92,000. FNY Investment Advisers LLC acquired a new position in Taro Pharmaceutical Industries in the 4th quarter valued at $105,000. BNP Paribas Financial Markets raised its holdings in shares of Taro Pharmaceutical Industries by 77.9% during the 1st quarter. BNP Paribas Financial Markets now owns 4,107 shares of the company’s stock worth $174,000 after buying an additional 1,799 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Taro Pharmaceutical Industries by 24.5% during the 4th quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $195,000 after buying an additional 921 shares in the last quarter. 91.40% of the stock is owned by institutional investors and hedge funds.

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.