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

Taro Pharmaceutical Industries (NYSE:TAROGet 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.

See Also

Earnings History for Taro Pharmaceutical Industries (NYSE:TARO)

Receive News & Ratings for Taro Pharmaceutical Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taro Pharmaceutical Industries and related companies with MarketBeat.com's FREE daily email newsletter.