Zacks Investment Research Upgrades Taro Pharmaceutical Industries (TARO) to “Hold”

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Taro Pharmaceutical Industries (NYSE:TARO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Taro Pharmaceutical Industries is engaged in the production, research and development, and marketing of prescription and over-the-counter pharmaceutical products, with a focus on generic products. In addition to the production of finished dosage form drugs, they also synthesize the pharmaceutical chemicals used in their production. Products are sold through wholesalers, generic drug distributors, drug store chains, mass merchandisers, HMOs, food stores, pharmacies and hospitals. “

Other research analysts have also issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Taro Pharmaceutical Industries in a research note on Friday, August 10th. ValuEngine lowered shares of Taro Pharmaceutical Industries from a “hold” rating to a “sell” rating in a research note on Monday, September 24th.

Taro Pharmaceutical Industries stock opened at $95.65 on Thursday. Taro Pharmaceutical Industries has a 1-year low of $93.01 and a 1-year high of $128.46. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.48 and a beta of 0.43.

Taro Pharmaceutical Industries (NYSE:TARO) last released its quarterly earnings data on Thursday, August 9th. The company reported $1.71 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.62). Taro Pharmaceutical Industries had a net margin of 34.18% and a return on equity of 11.73%. The business had revenue of $154.62 million during the quarter, compared to the consensus estimate of $179.54 million. On average, equities research analysts anticipate that Taro Pharmaceutical Industries will post 7.65 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Hikari Power Ltd purchased a new stake in shares of Taro Pharmaceutical Industries in the second quarter valued at about $296,000. BNP Paribas Arbitrage SA raised its holdings in shares of Taro Pharmaceutical Industries by 100.5% in the first quarter. BNP Paribas Arbitrage SA now owns 3,481 shares of the company’s stock valued at $344,000 after purchasing an additional 1,745 shares during the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of Taro Pharmaceutical Industries in the second quarter valued at about $360,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of Taro Pharmaceutical Industries by 31.1% in the second 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. Finally, Nomura Holdings Inc. purchased a new stake in shares of Taro Pharmaceutical Industries in the second quarter valued at about $393,000. Institutional investors own 10.40% of the company’s stock.

About Taro Pharmaceutical Industries

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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