Taro Pharmaceutical Industries (NYSE:TARO) Downgraded to Sell at Zacks Investment Research
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. “
Several other equities analysts also recently weighed in on the company. HC Wainwright restated a buy rating and set a $110.00 price target (up from $105.00) on shares of Taro Pharmaceutical Industries in a report on Tuesday, November 5th. ValuEngine upgraded Taro Pharmaceutical Industries from a sell rating to a hold rating in a report on Wednesday, October 2nd.
Taro Pharmaceutical Industries (NYSE:TARO) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.26). Taro Pharmaceutical Industries had a return on equity of 14.13% and a net margin of 40.43%. The firm had revenue of $160.85 million during the quarter, compared to the consensus estimate of $168.60 million. Research analysts predict that Taro Pharmaceutical Industries will post 6.45 EPS for the current year.
Large investors have recently modified their holdings of the company. Commonwealth Bank of Australia increased its holdings in shares of Taro Pharmaceutical Industries by 62.5% during the second quarter. Commonwealth Bank of Australia now owns 1,300 shares of the company’s stock valued at $111,000 after acquiring an additional 500 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Taro Pharmaceutical Industries during the second quarter valued at $290,000. Tower Research Capital LLC TRC boosted its position in shares of Taro Pharmaceutical Industries by 500.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,810 shares of the company’s stock valued at $325,000 after buying an additional 3,176 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Taro Pharmaceutical Industries during the second quarter valued at $337,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Taro Pharmaceutical Industries by 61.6% during the second quarter. Cubist Systematic Strategies LLC now owns 4,083 shares of the company’s stock valued at $349,000 after buying an additional 1,556 shares during the last quarter. Hedge funds and other institutional investors own 10.12% of the company’s stock.
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.
Featured Article: Understanding each part of a balance sheet
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Taro Pharmaceutical Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taro Pharmaceutical Industries and related companies with MarketBeat.com's FREE daily email newsletter.