Jefferies Financial Group Weighs in on Inotiv, Inc.’s FY2024 Earnings (NASDAQ:NOTV)

Inotiv, Inc. (NASDAQ:NOTVGet Rating) – Equities researchers at Jefferies Financial Group issued their FY2024 earnings estimates for Inotiv in a report released on Friday, November 18th. Jefferies Financial Group analyst D. Windley expects that the company will post earnings per share of $1.88 for the year. Jefferies Financial Group has a “Buy” rating and a $27.00 price objective on the stock. The consensus estimate for Inotiv’s current full-year earnings is $1.45 per share.

Several other equities analysts have also recently commented on the company. Lake Street Capital cut Inotiv from a “buy” rating to a “hold” rating and reduced their target price for the company from $60.00 to $7.00 in a research note on Friday. TheStreet cut Inotiv from a “c-” rating to a “d+” rating in a research note on Wednesday, November 9th.

Inotiv Stock Down 15.7 %

Shares of NASDAQ:NOTV opened at $5.75 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.60 and a debt-to-equity ratio of 0.54. Inotiv has a 52-week low of $4.45 and a 52-week high of $60.66. The company has a 50 day moving average of $18.60 and a two-hundred day moving average of $16.98. The company has a market capitalization of $147.17 million, a price-to-earnings ratio of -1.35 and a beta of 2.64.

Institutional Investors Weigh In On Inotiv

Large investors have recently added to or reduced their stakes in the stock. Blueshift Asset Management LLC acquired a new stake in Inotiv in the first quarter worth $207,000. Pembroke Management LTD increased its position in Inotiv by 4.4% in the first quarter. Pembroke Management LTD now owns 498,025 shares of the company’s stock worth $13,038,000 after buying an additional 20,929 shares during the period. Legacy Wealth Planning LLC increased its position in Inotiv by 58.7% in the first quarter. Legacy Wealth Planning LLC now owns 31,900 shares of the company’s stock worth $835,000 after buying an additional 11,800 shares during the period. King Luther Capital Management Corp increased its position in Inotiv by 79.7% in the first quarter. King Luther Capital Management Corp now owns 118,815 shares of the company’s stock worth $3,111,000 after buying an additional 52,690 shares during the period. Finally, Ophir Asset Management Pty Ltd increased its position in Inotiv by 6.8% in the second quarter. Ophir Asset Management Pty Ltd now owns 1,125,473 shares of the company’s stock worth $8,193,000 after buying an additional 71,377 shares during the period. 52.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO John Gregory Beattie acquired 8,900 shares of Inotiv stock in a transaction that occurred on Friday, September 9th. The shares were purchased at an average cost of $22.34 per share, for a total transaction of $198,826.00. Following the completion of the purchase, the chief operating officer now directly owns 51,694 shares of the company’s stock, valued at approximately $1,154,843.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.80% of the stock is currently owned by company insiders.

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 and Estimates for Inotiv (NASDAQ:NOTV)

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