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

Equities researchers at StockNews.com assumed coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a report issued on Sunday. The firm set a “strong-buy” rating on the stock.

Taro Pharmaceutical Industries Stock Performance

Shares of TARO opened at $42.97 on Friday. The stock has a 50-day simple moving average of $42.61 and a 200-day simple moving average of $42.26. The stock has a market capitalization of $1.62 billion, a PE ratio of 29.84 and a beta of 0.56. Taro Pharmaceutical Industries has a 1 year low of $32.67 and a 1 year high of $45.76.

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

Institutional Investors Weigh In On Taro Pharmaceutical Industries

Several institutional investors have recently added to or reduced their stakes in TARO. Brandes Investment Partners LP increased its position in Taro Pharmaceutical Industries by 0.7% during the fourth quarter. Brandes Investment Partners LP now owns 475,741 shares of the company’s stock worth $19,876,000 after buying an additional 3,253 shares during the period. Invesco Ltd. acquired a new position in Taro Pharmaceutical Industries during the third quarter worth approximately $9,995,000. UBS Group AG increased its position in Taro Pharmaceutical Industries by 56.6% during the third quarter. UBS Group AG now owns 54,175 shares of the company’s stock worth $2,043,000 after buying an additional 19,588 shares during the period. Vanguard Group Inc. increased its position in Taro Pharmaceutical Industries by 5.7% during the first quarter. Vanguard Group Inc. now owns 53,729 shares of the company’s stock worth $2,275,000 after buying an additional 2,889 shares during the period. Finally, Inspire Advisors LLC increased its position in Taro Pharmaceutical Industries by 5.9% during the first quarter. Inspire Advisors LLC now owns 14,495 shares of the company’s stock worth $614,000 after buying an additional 813 shares during the period. Hedge funds and other institutional investors own 91.40% of the company’s stock.

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.