Taro Pharmaceutical Industries Inc (NYSE:TARO) Hits New 12-Month Low After Analyst Downgrade

Taro Pharmaceutical Industries Ltd. (NYSE: TARO – Get a rating) The stock price hit a new 52-week low on Monday after HC Wainwright lowered its price target on the stock from $73.00 to $54.00. HC Wainwright currently has a buy rating on the stock. Taro Pharmaceutical Industries traded as low as $33.00 and last traded at $33.18, with volume traded at 445 shares. The stock previously closed at $34.23.

Separately, StockNews.com cut shares of Taro Pharmaceutical Industries from a “strong buy” rating to a “buy” rating in a Tuesday, June 7 report.

Institutional entries and exits

Hedge funds 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 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 purchasing an additional 26,984 shares last quarter. Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 17,947 shares in the last quarter. Brandes Investment Partners LP increased its holdings of Taro Pharmaceutical Industries shares by 8.5% in the first quarter. Brandes Investment Partners LP now owns 379,322 shares of the company worth $16,410,000 after purchasing an additional 29,606 shares last quarter. Finally, Invesco Ltd. increased its holdings of Taro Pharmaceutical Industries shares by 6.0% during the fourth quarter. Invesco Ltd. now owns 274,654 shares of the company worth $13,763,000 after purchasing an additional 15,595 shares last quarter. Institutional investors hold 12.28% of the company’s shares.

Taro Pharmaceutical Industries Price Performance

The company has a market capitalization of $1.23 billion, a PE ratio of 14.14 and a beta of 0.66. The company has a fifty-day moving average price of $36.71 and a 200-day moving average price of $40.45.

Taro Pharmaceutical Industries (NYSE: TARO – Get an assessment) last released its quarterly earnings data on Wednesday, July 27. The company reported EPS of $0.37 for the quarter, missing the consensus estimate of $0.85 per ($0.48). Taro Pharmaceutical Industries achieved a return on equity of 5.45% and a net margin of 15.96%. The company posted revenue of $156.67 million for the quarter, compared to $149.90 million expected by analysts. As a group, sell-side analysts predict that Taro Pharmaceutical Industries Ltd. will post an EPS of 3.86 for the current fiscal year.

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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