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

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

Taro Pharmaceutical Industries Stock Performance

NYSE:TARO opened at $42.97 on Monday. Taro Pharmaceutical Industries has a 12 month low of $32.67 and a 12 month high of $45.76. The company has a 50-day moving average price of $42.70 and a 200-day moving average price of $42.33. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 29.84 and a beta of 0.56.

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

Institutional Investors Weigh In On Taro Pharmaceutical Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TARO. California State Teachers Retirement System lifted its stake in Taro Pharmaceutical Industries by 2.3% in the 1st quarter. California State Teachers Retirement System now owns 11,323 shares of the company’s stock worth $479,000 after purchasing an additional 252 shares in the last quarter. Harvest Management LLC boosted its stake in Taro Pharmaceutical Industries by 3.9% during the fourth quarter. Harvest Management LLC now owns 7,380 shares of the company’s stock worth $308,000 after buying an additional 274 shares during the period. Inspire Advisors LLC grew its position in Taro Pharmaceutical Industries by 5.9% in the 1st quarter. Inspire Advisors LLC now owns 14,495 shares of the company’s stock valued at $614,000 after acquiring an additional 813 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Taro Pharmaceutical Industries by 24.5% during the fourth quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $195,000 after purchasing an additional 921 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Taro Pharmaceutical Industries by 77.9% in the first quarter. BNP Paribas Financial Markets now owns 4,107 shares of the company’s stock valued at $174,000 after purchasing an additional 1,799 shares during the period. 91.40% of the stock is owned by hedge funds and other institutional investors.

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.