Inotiv, Inc. (NASDAQ:NOTV – Get 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 %
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
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.
- Get a free copy of the StockNews.com research report on Inotiv (NOTV)
- Here’s Why SoFi Technologies Stock is Cheap at These Levels
- Warren Buffet Bought Taiwan Semiconductor Stock, Should You?
- MarketBeat: Week in Review 11/14 – 11/18
- Target’s Double Bottom Might Have Just Been Confirmed
- How High Can the Fed Go? How to Trade it
Receive News & Ratings for Inotiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inotiv and related companies with MarketBeat.com's FREE daily email newsletter.