Taro Pharmaceutical Industries (NYSE:TARO) posted its quarterly earnings results on Monday. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.36), Morningstar.com reports. The company had revenue of $158.97 million during the quarter, compared to the consensus estimate of $167.40 million. Taro Pharmaceutical Industries had a return on equity of 11.73% and a net margin of 34.18%.
Shares of NYSE:TARO traded up $0.14 during midday trading on Wednesday, hitting $101.48. 4,181 shares of the stock traded hands, compared to its average volume of 51,475. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 16.42 and a beta of 0.36. Taro Pharmaceutical Industries has a one year low of $93.01 and a one year high of $128.46.
A number of equities research analysts have issued reports on TARO shares. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of Taro Pharmaceutical Industries in a report on Friday, August 10th. Zacks Investment Research cut shares of Taro Pharmaceutical Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, August 16th. Finally, ValuEngine cut shares of Taro Pharmaceutical Industries from a “hold” rating to a “sell” rating in a report on Monday, September 24th.
Several large investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its stake in shares of Taro Pharmaceutical Industries by 136.8% during the second quarter. Acadian Asset Management LLC now owns 235,930 shares of the company’s stock valued at $27,295,000 after purchasing an additional 136,287 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Taro Pharmaceutical Industries during the second quarter valued at approximately $3,838,000. Northern Trust Corp grew its holdings in shares of Taro Pharmaceutical Industries by 56.2% during the second quarter. Northern Trust Corp now owns 81,294 shares of the company’s stock valued at $9,404,000 after buying an additional 29,242 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Taro Pharmaceutical Industries by 9.8% during the second quarter. Renaissance Technologies LLC now owns 287,000 shares of the company’s stock valued at $33,203,000 after buying an additional 25,600 shares during the last quarter. Finally, Boston Partners purchased a new stake in shares of Taro Pharmaceutical Industries during the second quarter valued at approximately $2,723,000. 10.45% of the stock is owned by hedge funds and other institutional investors.
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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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