Taro Pharmaceutical Industries Ltd. (NYSE:TARO) saw a significant decline in short interest in June. As of June 30th, there was short interest totalling 283,500 shares, a decline of 8.0% from the May 30th total of 308,300 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 74,500 shares, the short-interest ratio is currently 3.8 days.
Several research analysts have commented on TARO shares. ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Zacks Investment Research downgraded shares of Essential Properties Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Finally, TheStreet downgraded shares of ZovioInc . from a “c-” rating to a “d” rating in a research report on Thursday, May 23rd.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Enterprise Financial Services Corp acquired a new position in shares of Taro Pharmaceutical Industries during the first quarter valued at about $44,000. American National Insurance Co. TX acquired a new position in shares of Taro Pharmaceutical Industries during the first quarter valued at about $224,000. Two Sigma Advisers LP raised its holdings in shares of Taro Pharmaceutical Industries by 12.5% during the fourth quarter. Two Sigma Advisers LP now owns 2,700 shares of the company’s stock valued at $229,000 after purchasing an additional 300 shares during the period. ELCO Management Co. LLC acquired a new position in shares of Taro Pharmaceutical Industries during the first quarter valued at about $230,000. Finally, Jane Street Group LLC acquired a new position in shares of Taro Pharmaceutical Industries during the fourth quarter valued at about $239,000. 9.81% of the stock is currently owned by institutional investors and hedge funds.
TARO traded up $0.49 during trading on Friday, hitting $82.90. 48,699 shares of the stock traded hands, compared to its average volume of 74,858. Taro Pharmaceutical Industries has a twelve month low of $76.93 and a twelve month high of $117.56. The firm has a market cap of $3.19 billion, a P/E ratio of 11.47 and a beta of 0.48. The business’s 50 day moving average is $88.64.
Taro Pharmaceutical Industries (NYSE:TARO) last posted its earnings results on Wednesday, May 22nd. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.74). Taro Pharmaceutical Industries had a return on equity of 13.44% and a net margin of 42.06%. The company had revenue of $179.92 million for the quarter, compared to the consensus estimate of $189.90 million. On average, analysts anticipate that Taro Pharmaceutical Industries will post 8.98 earnings per share for the current fiscal year.
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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