Taro Pharmaceutical Industries (TARO) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Taro Pharmaceutical Industries (NYSE:TARO) from a sell rating to a hold rating in a research note released on Thursday.

Other analysts also recently issued research reports about the stock. HC Wainwright restated a buy rating and set a $120.00 price objective on shares of Taro Pharmaceutical Industries in a research report on Monday, October 1st. Zacks Investment Research upgraded shares of Taro Pharmaceutical Industries from a sell rating to a hold rating in a research report on Thursday, October 11th.

NYSE TARO traded down $0.31 during trading on Thursday, reaching $94.62. 64,583 shares of the company’s stock were exchanged, compared to its average volume of 72,077. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 15.31 and a beta of 0.40. Taro Pharmaceutical Industries has a 1 year low of $76.93 and a 1 year high of $121.23.

Taro Pharmaceutical Industries (NYSE:TARO) last posted its earnings results on Monday, November 5th. The company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.36). The business had revenue of $158.97 million for the quarter, compared to analysts’ expectations of $167.40 million. Taro Pharmaceutical Industries had a return on equity of 11.99% and a net margin of 36.33%. Equities analysts anticipate that Taro Pharmaceutical Industries will post 7.4 earnings per share for the current year.

The business also recently declared a dividend, which was paid on Friday, December 28th. Investors of record on Tuesday, December 11th were given a $12.81 dividend. The ex-dividend date was Monday, December 10th.

Several institutional investors have recently bought and sold shares of TARO. Bank of New York Mellon Corp lifted its stake in Taro Pharmaceutical Industries by 73.1% in the second quarter. Bank of New York Mellon Corp now owns 20,109 shares of the company’s stock valued at $2,326,000 after buying an additional 8,492 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Taro Pharmaceutical Industries by 25.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 10,026 shares of the company’s stock valued at $1,160,000 after buying an additional 2,054 shares during the last quarter. FMR LLC lifted its stake in Taro Pharmaceutical Industries by 1.6% in the second quarter. FMR LLC now owns 655,851 shares of the company’s stock valued at $75,875,000 after buying an additional 10,562 shares during the last quarter. Renaissance Technologies LLC raised its position in Taro Pharmaceutical Industries by 9.8% in the 2nd quarter. Renaissance Technologies LLC now owns 287,000 shares of the company’s stock valued at $33,203,000 after purchasing an additional 25,600 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in Taro Pharmaceutical Industries by 31.1% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 3,230 shares of the company’s stock valued at $374,000 after purchasing an additional 766 shares during the last quarter. 10.38% 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, engages in the development, manufacture, and marketing of pharmaceutical products in the United States, Canada, Israel, and internationally. It offers prescription and over-the-counter pharmaceutical products focusing on primary areas, including topical creams and ointments, liquids, capsules, and tablets in the dermatological and topical, cardiovascular, neuropsychiatric, and anti-inflammatory therapeutic categories.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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