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

A number of other equities research analysts have also commented on TARO. 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.

NYSE:TARO opened at $95.65 on Thursday. Taro Pharmaceutical Industries has a 52 week low of $93.01 and a 52 week high of $128.46. The firm has a market capitalization of $3.88 billion, a PE ratio of 15.48 and a beta of 0.43.

Taro Pharmaceutical Industries (NYSE:TARO) last posted its quarterly earnings data on Thursday, August 9th. The company reported $1.71 EPS for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $154.62 million during the quarter, compared to the consensus estimate of $179.54 million. On average, sell-side analysts anticipate that Taro Pharmaceutical Industries will post 7.65 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hikari Power Ltd bought a new position in Taro Pharmaceutical Industries during the second quarter worth $296,000. Ramsey Quantitative Systems bought a new position in Taro Pharmaceutical Industries during the second quarter worth $360,000. Dynamic Technology Lab Private Ltd boosted its stake in Taro Pharmaceutical Industries by 31.1% during the second quarter. Dynamic Technology Lab Private Ltd now owns 3,230 shares of the company’s stock worth $374,000 after acquiring an additional 766 shares in the last quarter. Nomura Holdings Inc. bought a new position in Taro Pharmaceutical Industries during the second quarter worth $393,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Taro Pharmaceutical Industries by 100.5% during the first quarter. BNP Paribas Arbitrage SA now owns 3,481 shares of the company’s stock worth $344,000 after acquiring an additional 1,745 shares in the last quarter. 10.40% of the stock is currently owned by institutional investors and hedge funds.

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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