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

Stock analysts at StockNews.com assumed coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a report issued on Monday. The brokerage set a “strong-buy” rating on the stock.

Taro Pharmaceutical Industries Stock Performance

Shares of 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 stock’s fifty day simple moving average is $42.69 and its two-hundred day simple moving average is $42.32. 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 (NYSE:TARO) last released 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 business had revenue of $164.94 million for the quarter, compared to analysts’ expectations of $156.10 million. Taro Pharmaceutical Industries had a net margin of 8.56% and a return on equity of 3.75%.

Institutional Investors Weigh In On Taro Pharmaceutical Industries

Several institutional investors and hedge funds have recently made changes to their positions in TARO. Cetera Advisors LLC purchased a new position in Taro Pharmaceutical Industries during the 1st quarter worth approximately $242,000. LRI Investments LLC purchased a new position in shares of Taro Pharmaceutical Industries during the first quarter worth $85,000. California State Teachers Retirement System lifted its position in Taro Pharmaceutical Industries by 2.3% during the first quarter. California State Teachers Retirement System now owns 11,323 shares of the company’s stock valued at $479,000 after purchasing an additional 252 shares during the period. Vanguard Group Inc. boosted its holdings in Taro Pharmaceutical Industries by 5.7% in the first quarter. Vanguard Group Inc. now owns 53,729 shares of the company’s stock valued at $2,275,000 after purchasing an additional 2,889 shares during the last quarter. Finally, Inspire Advisors LLC grew its position in Taro Pharmaceutical Industries by 5.9% during the 1st quarter. Inspire Advisors LLC now owns 14,495 shares of the company’s stock worth $614,000 after purchasing an additional 813 shares during the period. 91.40% of the stock is currently owned by institutional investors and hedge funds.

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.