Shares of Taro Pharmaceutical Industries Ltd. (NYSE: TARO – Get a rating) broke below its 200-day moving average during Wednesday’s session. The stock has a two-hundred-day moving average of $41.63 and is trading as low as $36.50. Taro Pharmaceutical Industries shares last traded at $36.50, with volume traded at 13,707 shares.
Changes to analyst ratings
Separately, StockNews.com cut shares of Taro Pharmaceutical Industries from a “strong buy” rating to a “buy” rating in a Tuesday, June 7 research report.
Taro Pharmaceutical Industries is trading down 1.3%
The stock’s 50-day simple moving average is $37.04 and its 200-day simple moving average is $41.63. The company has a market capitalization of $1.37 billion, a P/E ratio of 23.55 and a beta of 0.69.
Taro Pharmaceutical Industries (NYSE: TARO – Get a rating) last released its results on Thursday, May 26. The company reported EPS of $0.73 for the quarter, missing the consensus estimate of $0.88 per ($0.15). The company posted revenue of $143.26 million for the quarter, compared to $147.00 million expected by analysts. Taro Pharmaceutical Industries achieved a return on equity of 7.10% and a net margin of 10.38%. In the same quarter of the previous year, the company made earnings per share of $0.81. On average, equity research analysts expect Taro Pharmaceutical Industries Ltd. posts an EPS of 3.86 for the current year.
Hedge funds weigh on Taro Pharmaceutical Industries
A number of hedge funds have recently bought and sold shares of TARO. Krensavage Asset Management LLC increased its stake in Taro Pharmaceutical Industries by 5.0% during the 1st quarter. Krensavage Asset Management LLC now owns 565,951 shares of the company valued at $24,483,000 after acquiring an additional 26,984 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Taro Pharmaceutical Industries by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 534,629 shares of the company valued at $23,128,000 after acquiring an additional 17,947 shares in the last quarter. Brandes Investment Partners LP increased its equity stake in Taro Pharmaceutical Industries by 8.5% in Q1. Brandes Investment Partners LP now owns 379,322 shares of the company worth $16,410,000 after acquiring 29,606 additional shares in the last quarter. Invesco Ltd. increased its stake in Taro Pharmaceutical Industries by 6.0% during the 4th quarter. Invesco Ltd. now owns 274,654 shares of the company valued at $13,763,000 after purchasing an additional 15,595 shares in the last quarter. Finally, Eversept Partners LP increased its stake in Taro Pharmaceutical Industries by 21.6% in the 1st quarter. Eversept Partners LP now owns 220,286 shares of the company worth $9,530,000 after acquiring 39,135 additional shares last quarter. Institutional investors hold 12.28% of the company’s shares.
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 around the world. The Company also develops and manufactures active pharmaceutical ingredients primarily for use in its finished products in dosage form.
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