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Taro Pharmaceutical Industries (NYSE:TARO) Upgraded to "Hold" by ValuEngine

Last updated on Monday, August 3rd, 2020 by MarketBeat

Taro Pharmaceutical Industries (NYSE:TARO) was upgraded by equities research analysts at ValuEngine from a "sell" rating to a "hold" rating in a report issued on Monday, ValuEngine reports.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Taro Pharmaceutical Industries from a "hold" rating to a "strong sell" rating in a research note on Saturday. HC Wainwright decreased their target price on Taro Pharmaceutical Industries from $96.00 to $82.00 and set a "buy" rating for the company in a research note on Monday, July 27th.

Shares of NYSE:TARO traded up $0.44 on Monday, hitting $65.45. The company's stock had a trading volume of 25,019 shares, compared to its average volume of 41,241. Taro Pharmaceutical Industries has a 12 month low of $56.07 and a 12 month high of $99.69. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -9.73 and a beta of 0.77. The stock's 50-day moving average is $66.19 and its two-hundred day moving average is $68.96.

Taro Pharmaceutical Industries (NYSE:TARO) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($11.37) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $1.16 by ($12.53). Taro Pharmaceutical Industries had a positive return on equity of 10.51% and a negative net margin of 42.73%. The business had revenue of $117.63 million during the quarter, compared to the consensus estimate of $158.35 million. On average, equities research analysts expect that Taro Pharmaceutical Industries will post -3.54 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new stake in shares of Taro Pharmaceutical Industries during the first quarter valued at $29,000. CWM Advisors LLC purchased a new stake in shares of Taro Pharmaceutical Industries during the first quarter valued at $62,000. Cutler Group LP lifted its holdings in shares of Taro Pharmaceutical Industries by 57.1% during the second quarter. Cutler Group LP now owns 1,100 shares of the company's stock valued at $73,000 after purchasing an additional 400 shares during the last quarter. Aigen Investment Management LP lifted its holdings in shares of Taro Pharmaceutical Industries by 25.6% during the first quarter. Aigen Investment Management LP now owns 3,188 shares of the company's stock valued at $195,000 after purchasing an additional 649 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Taro Pharmaceutical Industries by 12.6% during the first quarter. Russell Investments Group Ltd. now owns 3,867 shares of the company's stock valued at $241,000 after purchasing an additional 434 shares during the last quarter. 11.60% of the stock is 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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To view ValuEngine's full report, visit ValuEngine's official website.

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