Taro Pharmaceutical Industries (NYSE:TARO) Stock Price Crosses Above 200-Day Moving Average of $39.61

Shares of Taro Pharmaceutical Industries Ltd. (NYSE:TARO - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $39.61 and traded as high as $42.22. Taro Pharmaceutical Industries shares last traded at $42.04, with a volume of 26,677 shares changing hands.

Wall Street Analysts Forecast Growth

TARO has been the subject of a number of analyst reports. StockNews.com assumed coverage on Taro Pharmaceutical Industries in a research report on Thursday. They set a "strong-buy" rating for the company. HC Wainwright downgraded shares of Taro Pharmaceutical Industries from a "buy" rating to a "neutral" rating and set a $43.00 price objective on the stock. in a research report on Thursday, January 18th.

Taro Pharmaceutical Industries Price Performance

The company has a market cap of $1.58 billion, a PE ratio of 34.53 and a beta of 0.61. The stock has a 50 day simple moving average of $42.19 and a two-hundred day simple moving average of $39.61.

Taro Pharmaceutical Industries (NYSE:TARO - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.26. The firm had revenue of $157.15 million during the quarter, compared to analysts' expectations of $154.90 million. Taro Pharmaceutical Industries had a net margin of 7.48% and a return on equity of 3.26%. As a group, equities analysts anticipate that Taro Pharmaceutical Industries Ltd. will post 1.38 EPS for the current fiscal year.

Institutional Trading of Taro Pharmaceutical Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Taro Pharmaceutical Industries by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 50,840 shares of the company's stock worth $2,124,000 after acquiring an additional 2,788 shares during the period. Legal & General Group Plc increased its position in Taro Pharmaceutical Industries by 4.8% during the 4th quarter. Legal & General Group Plc now owns 8,668 shares of the company's stock worth $362,000 after purchasing an additional 400 shares during the period. Barclays PLC raised its stake in shares of Taro Pharmaceutical Industries by 201.8% during the 4th quarter. Barclays PLC now owns 14,553 shares of the company's stock worth $608,000 after buying an additional 9,731 shares in the last quarter. Murchinson Ltd. lifted its holdings in shares of Taro Pharmaceutical Industries by 61.7% in the 4th quarter. Murchinson Ltd. now owns 167,782 shares of the company's stock valued at $7,010,000 after buying an additional 64,038 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Taro Pharmaceutical Industries by 59.9% in the fourth quarter. Nuveen Asset Management LLC now owns 34,545 shares of the company's stock valued at $1,443,000 after buying an additional 12,942 shares in the last quarter. 91.40% of the stock is owned by institutional investors and hedge funds.

Taro Pharmaceutical Industries Company Profile

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 internationally. The company also develops and manufactures active pharmaceutical ingredients primarily for use in its finished dosage form products.