Taro Pharmaceutical Industries (NYSE:TARO) Sees Unusually-High Trading Volume

Taro Pharmaceutical Industries Ltd. (NYSE:TARO – Get Rating) shares saw strong trading volume on Tuesday . 2,252 shares changed hands during mid-day trading, a decline of 96% from the previous session’s volume of 58,125 shares.The stock last traded at $36.50 and had previously closed at $36.60.

Separately, StockNews.com downgraded shares of Taro Pharmaceutical Industries from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 7th.

The company’s 50 day moving average price is $37.64 and its 200 day moving average price is $43.76. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 23.61 and a beta of 0.73.

Taro Pharmaceutical Industries (NYSE:TARO – Get Rating) last issued its quarterly earnings results on Thursday, May 26th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). The company had revenue of $143.26 million for the quarter, compared to analyst estimates of $147.00 million. Taro Pharmaceutical Industries had a return on equity of 7.10% and a net margin of 10.38%. During the same quarter last year, the company earned $0.81 EPS. On average, equities analysts forecast that Taro Pharmaceutical Industries Ltd. will post 3.86 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in TARO. Quadrant Capital Group LLC lifted its position in Taro Pharmaceutical Industries by 362.5% during the 4th quarter. Quadrant Capital Group LLC now owns 629 shares of the company’s stock valued at $32,000 after purchasing an additional 493 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Taro Pharmaceutical Industries during the 4th quarter valued at about $45,000. Signaturefd LLC lifted its position in Taro Pharmaceutical Industries by 153.9% during the 4th quarter. Signaturefd LLC now owns 1,526 shares of the company’s stock valued at $76,000 after purchasing an additional 925 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Taro Pharmaceutical Industries by 141.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,900 shares of the company’s stock valued at $125,000 after purchasing an additional 1,700 shares during the period. Finally, American Century Companies Inc. lifted its position in Taro Pharmaceutical Industries by 11.0% during the 4th quarter. American Century Companies Inc. now owns 5,005 shares of the company’s stock valued at $251,000 after purchasing an additional 494 shares during the period. Institutional investors own 12.28% of the company’s stock.

About Taro Pharmaceutical Industries (NYSE:TARO)

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.

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