Cubist Systematic Strategies LLC Increases Stock Position in Taro Pharmaceutical Industries Ltd. (NYSE:TARO)

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Cubist Systematic Strategies LLC boosted its stake in Taro Pharmaceutical Industries Ltd. (NYSE:TARO) by 61.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,083 shares of the company’s stock after acquiring an additional 1,556 shares during the period. Cubist Systematic Strategies LLC’s holdings in Taro Pharmaceutical Industries were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TARO. Redhawk Wealth Advisors Inc. purchased a new stake in Taro Pharmaceutical Industries in the first quarter valued at $420,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Taro Pharmaceutical Industries in the second quarter valued at about $473,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Taro Pharmaceutical Industries by 59.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 53,441 shares of the company’s stock valued at $4,564,000 after buying an additional 20,002 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Taro Pharmaceutical Industries in the second quarter valued at about $1,083,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Taro Pharmaceutical Industries by 98.0% in the second quarter. JPMorgan Chase & Co. now owns 22,627 shares of the company’s stock valued at $1,934,000 after buying an additional 11,197 shares during the last quarter. 10.16% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:TARO opened at $76.08 on Friday. The company has a 50-day simple moving average of $78.27 and a 200-day simple moving average of $89.78. Taro Pharmaceutical Industries Ltd. has a one year low of $72.97 and a one year high of $109.42. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 10.52 and a beta of 0.42.

Taro Pharmaceutical Industries (NYSE:TARO) last announced its earnings results on Thursday, August 8th. The company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.24). Taro Pharmaceutical Industries had a net margin of 41.49% and a return on equity of 13.90%. The business had revenue of $161.30 million during the quarter, compared to analysts’ expectations of $169.80 million. On average, equities research analysts forecast that Taro Pharmaceutical Industries Ltd. will post 7.33 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Taro Pharmaceutical Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 13th. ValuEngine raised shares of Taro Pharmaceutical Industries from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, HC Wainwright reduced their target price on shares of Taro Pharmaceutical Industries from $115.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 12th.

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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Institutional Ownership by Quarter for Taro Pharmaceutical Industries (NYSE:TARO)

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