Taro Pharmaceutical Industries Inc (NYSE: TARO) Downgraded to StockNews.com

Taro Pharmaceutical Industries (NYSE: TARO – Get a rating) was demoted by research analysts to StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, HC Wainwright cut its price target on Taro Pharmaceutical Industries from $73.00 to $54.00 and set a “buy” rating on the stock in a Monday, August 15 report.

Taro Pharmaceutical Industries shares down 3.0%

TARO shares traded down $1.04 at midday Wednesday, hitting $33.48. The company’s stock had a trading volume of 8,640 shares, compared to an average volume of 23,700. Taro Pharmaceutical Industries has a one-year low of $32.15 and a one-year high of $71.00 . The company’s fifty-day simple moving average is $36.34 and its two-hundred-day simple moving average is $39.81. The stock has a market capitalization of $1.26 billion, a price-earnings ratio of 13.83 and a beta of 0.66.

Taro Pharmaceutical Industries (NYSE: TARO – Get a rating) last released its quarterly earnings data on Wednesday, July 27. The company reported earnings per share of $0.37 for the quarter, missing analyst consensus estimates of $0.85 per ($0.48). The company posted revenue of $156.67 million for the quarter, versus a consensus estimate of $149.90 million. Taro Pharmaceutical Industries achieved a return on equity of 5.45% and a net margin of 15.96%. On average, research analysts predict that Taro Pharmaceutical Industries will post earnings per share of 2.98 for the current year.

Institutional investors weigh in on Taro Pharmaceutical Industries

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Taro Pharmaceutical Industries by 0.9% in the 2nd quarter. Renaissance Technologies LLC now owns 684,300 shares of the company valued at $24,744,000 after acquiring an additional 6,000 shares during the period. Krensavage Asset Management LLC increased its position in shares of Taro Pharmaceutical Industries by 5.0% during the first quarter. Krensavage Asset Management LLC now owns 565,951 shares of the company valued at $24,483,000 after purchasing 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 first quarter. Dimensional Fund Advisors LP now owns 534,629 shares of the company valued at $23,128,000 after purchasing an additional 17,947 shares during the period. Brandes Investment Partners LP increased its position in shares of Taro Pharmaceutical Industries by 8.5% during the first quarter. Brandes Investment Partners LP now owns 379,322 shares of the company valued at $16,410,000 after purchasing an additional 29,606 shares during the period. Finally, Invesco Ltd. increased its position in shares of Taro Pharmaceutical Industries by 6.0% during the fourth quarter. Invesco Ltd. now owns 274,654 shares of the company valued at $13,763,000 after purchasing an additional 15,595 shares during the period. 12.28% of the shares are currently held by institutional investors.

About Taro Pharmaceutical Industries

(Get a rating)

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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