Taro Pharmaceutical Industries (NYSE:TARO) Share Price Passes Above Two Hundred Day Moving Average of $40.01

Shares of Taro Pharmaceutical Industries Ltd. (NYSE:TARO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $40.01 and traded as high as $42.49. Taro Pharmaceutical Industries shares last traded at $42.40, with a volume of 27,051 shares.

Analyst Ratings Changes

A number of research firms have commented on TARO. StockNews.com began coverage on shares of Taro Pharmaceutical Industries in a research note on Saturday. They issued a “strong-buy” rating for the company. HC Wainwright cut shares of Taro Pharmaceutical Industries from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Thursday, January 18th.

Taro Pharmaceutical Industries Stock Performance

The company has a market cap of $1.59 billion, a PE ratio of 34.75 and a beta of 0.61. The stock’s 50 day moving average price is $42.14 and its 200-day moving average price is $40.03.

Taro Pharmaceutical Industries (NYSE:TARO) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.26. Taro Pharmaceutical Industries had a net margin of 7.48% and a return on equity of 3.26%. The company had revenue of $157.15 million during the quarter, compared to analysts’ expectations of $154.90 million. On average, analysts anticipate that Taro Pharmaceutical Industries Ltd. will post 1.38 EPS for the current year.

Institutional Investors Weigh In On Taro Pharmaceutical Industries

A number of institutional investors have recently made changes to their positions in the business. Harvest Management LLC boosted its stake in shares of Taro Pharmaceutical Industries by 3.9% in the 4th quarter. Harvest Management LLC now owns 7,380 shares of the company’s stock valued at $308,000 after purchasing an additional 274 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Taro Pharmaceutical Industries by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 22,223 shares of the company’s stock valued at $838,000 after purchasing an additional 307 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Taro Pharmaceutical Industries by 24.5% in the 4th quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $195,000 after purchasing an additional 921 shares in the last quarter. Strs Ohio boosted its position in Taro Pharmaceutical Industries by 58.8% during the 3rd quarter. Strs Ohio now owns 2,700 shares of the company’s stock valued at $101,000 after buying an additional 1,000 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Taro Pharmaceutical Industries during the 3rd quarter valued at $65,000. 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.