Inotiv (NASDAQ:NOTV) Issues Earnings Results

Inotiv (NASDAQ:NOTVGet Rating) released its earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.40, MarketWatch Earnings reports. Inotiv had a negative net margin of 49.16% and a negative return on equity of 5.32%. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. Inotiv updated its FY 2022 guidance to EPS.

NOTV stock opened at $16.55 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $421.36 million, a PE ratio of -3.88 and a beta of 2.24. Inotiv has a twelve month low of $11.25 and a twelve month high of $60.66. The stock has a 50-day simple moving average of $21.01 and a two-hundred day simple moving average of $33.30.

In related news, VP Philip A. Downing bought 2,000 shares of Inotiv stock in a transaction on Tuesday, February 22nd. The stock was acquired at an average price of $23.97 per share, with a total value of $47,940.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John E. Sagartz bought 2,506 shares of Inotiv stock in a transaction on Thursday, February 17th. The shares were bought at an average cost of $19.95 per share, with a total value of $49,994.70. The disclosure for this purchase can be found here. Insiders have acquired a total of 56,524 shares of company stock valued at $1,165,916 in the last ninety days. Insiders own 9.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC bought a new stake in Inotiv in the 1st quarter worth approximately $407,000. Bank of America Corp DE lifted its position in Inotiv by 177.3% in the 4th quarter. Bank of America Corp DE now owns 8,982 shares of the company’s stock worth $378,000 after buying an additional 5,743 shares during the last quarter. California State Teachers Retirement System lifted its position in Inotiv by 10.2% in the fourth quarter. California State Teachers Retirement System now owns 8,058 shares of the company’s stock valued at $339,000 after purchasing an additional 749 shares during the last quarter. Invesco Ltd. lifted its position in Inotiv by 33.7% in the third quarter. Invesco Ltd. now owns 10,156 shares of the company’s stock valued at $297,000 after purchasing an additional 2,560 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in Inotiv in the third quarter valued at approximately $258,000. Institutional investors own 54.92% of the company’s stock.

Several analysts have recently commented on NOTV shares. Lake Street Capital raised their price objective on shares of Inotiv from $60.00 to $75.00 in a research report on Friday, February 11th. Colliers Securities restated a “buy” rating on shares of Inotiv in a research note on Tuesday, March 22nd. TheStreet cut Inotiv from a “b-” rating to a “c” rating in a research note on Monday, January 31st. Finally, Zacks Investment Research cut Inotiv from a “hold” rating to a “sell” rating in a research note on Tuesday, April 12th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, Inotiv has an average rating of “Buy” and a consensus price target of $58.50.

Inotiv Company Profile (Get Rating)

Inotiv, Inc provides drug discovery and development services to the pharmaceutical, chemical, and medical device industries; and sells analytical instruments to the pharmaceutical development and contract research industries. It operates through two segments, Contract Research Services and Research Products.

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Earnings History for Inotiv (NASDAQ:NOTV)

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