Taro Pharmaceutical Industries (NYSE:TARO) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a research note issued to investors on Sunday morning. The brokerage issued a strong-buy rating on the stock.

Separately, HC Wainwright lowered Taro Pharmaceutical Industries from a buy rating to a neutral rating and set a $43.00 price target on the stock. in a research note on Thursday, January 18th.

Taro Pharmaceutical Industries Price Performance

NYSE:TARO traded up $0.03 during midday trading on Friday, reaching $42.48. The stock had a trading volume of 11,702 shares, compared to its average volume of 45,187. The stock has a market capitalization of $1.60 billion, a P/E ratio of 34.80 and a beta of 0.60. Taro Pharmaceutical Industries has a 1-year low of $27.37 and a 1-year high of $45.76. The firm’s fifty day simple moving average is $42.17 and its 200-day simple moving average is $40.33.

Institutional Investors Weigh In On Taro Pharmaceutical Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Brandes Investment Partners LP boosted its stake in Taro Pharmaceutical Industries by 0.7% in the fourth quarter. Brandes Investment Partners LP now owns 475,741 shares of the company’s stock valued at $19,876,000 after acquiring an additional 3,253 shares during the last quarter. Invesco Ltd. bought a new position in shares of Taro Pharmaceutical Industries in the 3rd quarter worth $9,995,000. UBS Group AG grew its stake in shares of Taro Pharmaceutical Industries by 56.6% during the third quarter. UBS Group AG now owns 54,175 shares of the company’s stock worth $2,043,000 after purchasing an additional 19,588 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Taro Pharmaceutical Industries by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 22,223 shares of the company’s stock worth $838,000 after purchasing an additional 307 shares during the period. Finally, Strs Ohio increased its holdings in Taro Pharmaceutical Industries by 385.2% in the fourth quarter. Strs Ohio now owns 13,100 shares of the company’s stock valued at $547,000 after purchasing an additional 10,400 shares during the last quarter. Institutional investors own 91.40% of the company’s stock.

About Taro Pharmaceutical Industries

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.