Taro Pharmaceutical Industries (NYSE:TARO) Announces Earnings Results, Misses Expectations By $0.15 EPS

Taro Pharmaceutical Industries (NYSE:TARO – Get Rating) released its quarterly earnings results on Thursday. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15), MarketWatch Earnings reports. Taro Pharmaceutical Industries had a net margin of 0.19% and a return on equity of 7.33%. During the same quarter in the previous year, the company posted $0.81 EPS.

NYSE TARO opened at $36.58 on Friday. The company’s 50-day moving average price is $39.94 and its 200-day moving average price is $45.83. The stock has a market cap of $1.37 billion, a PE ratio of 914.73 and a beta of 0.73. Taro Pharmaceutical Industries has a 12 month low of $33.58 and a 12 month high of $76.00.

TARO has been the topic of several recent analyst reports. HC Wainwright reduced their target price on shares of Taro Pharmaceutical Industries from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 31st. StockNews.com initiated coverage on shares of Taro Pharmaceutical Industries in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Finally, Zacks Investment Research raised shares of Taro Pharmaceutical Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th.

A number of institutional investors have recently modified their holdings of TARO. Morgan Stanley boosted its holdings in shares of Taro Pharmaceutical Industries by 226.0% in the 2nd quarter. Morgan Stanley now owns 49,013 shares of the company’s stock valued at $3,527,000 after buying an additional 33,979 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Taro Pharmaceutical Industries in the 3rd quarter valued at about $382,000. LPL Financial LLC boosted its holdings in shares of Taro Pharmaceutical Industries by 5.0% in the 3rd quarter. LPL Financial LLC now owns 4,642 shares of the company’s stock valued at $295,000 after buying an additional 223 shares in the last quarter. State Street Corp boosted its holdings in shares of Taro Pharmaceutical Industries by 1.9% in the 4th quarter. State Street Corp now owns 52,194 shares of the company’s stock valued at $2,615,000 after buying an additional 974 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Taro Pharmaceutical Industries by 2.9% in the 4th quarter. Sei Investments Co. now owns 11,125 shares of the company’s stock valued at $557,000 after buying an additional 316 shares in the last quarter. Institutional investors own 12.28% of the company’s stock.

Taro Pharmaceutical Industries Company Profile (Get Rating)

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.

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