Taro Pharmaceutical Industries Ltd. (NYSE:TARO) saw a large decrease in short interest in June. As of June 30th, there was short interest totalling 283,500 shares, a decrease of 8.0% from the May 30th total of 308,300 shares. Based on an average daily volume of 74,500 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.0% of the shares of the stock are sold short.
Shares of TARO traded down $0.10 during trading hours on Monday, hitting $82.80. 11,940 shares of the company were exchanged, compared to its average volume of 75,566. The stock has a market capitalization of $3.19 billion, a P/E ratio of 11.45 and a beta of 0.48. Taro Pharmaceutical Industries has a fifty-two week low of $76.93 and a fifty-two week high of $117.56. The business’s fifty day simple moving average is $88.64.
Taro Pharmaceutical Industries (NYSE:TARO) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $179.92 million for the quarter, compared to the consensus estimate of $189.90 million. As a group, equities research analysts anticipate that Taro Pharmaceutical Industries will post 8.98 earnings per share for the current fiscal year.
Several analysts have recently issued reports on the company. Zacks Investment Research lowered Essential Properties Realty Trust from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. ValuEngine lowered Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Finally, TheStreet lowered ZovioInc . from a “c-” rating to a “d” rating in a report on Thursday, May 23rd.
Several hedge funds have recently made changes to their positions in the stock. Two Sigma Advisers LP lifted its position in shares of Taro Pharmaceutical Industries by 12.5% during the 4th quarter. Two Sigma Advisers LP now owns 2,700 shares of the company’s stock worth $229,000 after buying an additional 300 shares during the last quarter. Enterprise Financial Services Corp bought a new stake in shares of Taro Pharmaceutical Industries during the 1st quarter worth $44,000. Hudson Capital Management LLC lifted its position in shares of Taro Pharmaceutical Industries by 10.9% during the 1st quarter. Hudson Capital Management LLC now owns 12,394 shares of the company’s stock worth $1,340,000 after buying an additional 1,220 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Taro Pharmaceutical Industries by 60.7% during the 4th quarter. Legal & General Group Plc now owns 4,930 shares of the company’s stock worth $417,000 after buying an additional 1,862 shares during the last quarter. Finally, American National Insurance Co. TX bought a new stake in shares of Taro Pharmaceutical Industries during the 1st quarter worth $224,000. Institutional investors and hedge funds own 10.04% 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.
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