Lazard Asset Management LLC Sells 9,230 Shares of Inotiv, Inc. (NASDAQ:NOTV)

Lazard Asset Management LLC trimmed its stake in shares of Inotiv, Inc. (NASDAQ:NOTV) by 34.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,570 shares of the company’s stock after selling 9,230 shares during the period. Lazard Asset Management LLC owned 0.07% of Inotiv worth $72,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Nkcfo LLC purchased a new position in shares of Inotiv during the fourth quarter valued at about $476,000. Vantage Point Financial LLC purchased a new position in Inotiv during the 4th quarter valued at approximately $1,393,000. Virtu Financial LLC bought a new stake in Inotiv in the 4th quarter worth approximately $76,000. Calamos Advisors LLC purchased a new stake in shares of Inotiv during the 4th quarter worth approximately $275,000. Finally, Renaissance Technologies LLC boosted its position in shares of Inotiv by 77.9% during the 4th quarter. Renaissance Technologies LLC now owns 304,254 shares of the company’s stock valued at $1,260,000 after acquiring an additional 133,190 shares during the last quarter. 18.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital reduced their price target on shares of Inotiv from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th.

Inotiv Stock Performance

Inotiv stock opened at $2.12 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.57 and a debt-to-equity ratio of 2.31. Inotiv, Inc. has a twelve month low of $1.15 and a twelve month high of $6.48. The company’s 50-day moving average price is $2.15 and its 200-day moving average price is $3.29. The company has a market cap of $72.83 million, a PE ratio of -0.46 and a beta of 4.03.

Inotiv (NASDAQ:NOTV) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.06. Inotiv had a negative return on equity of 15.41% and a negative net margin of 25.40%. The company had revenue of $124.32 million for the quarter, compared to analysts’ expectations of $123.97 million. On average, equities research analysts forecast that Inotiv, Inc. will post -0.79 EPS for the current fiscal year.

Inotiv Profile

Inotiv, Inc provides nonclinical and analytical drug discovery and development services to the pharmaceutical and medical device industries. It operates through two segment: Discovery and Safety Assessment (DSA), and Research Models and Services (RMS). The DMS segment manufactured scientific instruments for life sciences research and the related software for use by pharmaceutical companies, universities, government research centers, and medical research institutions under the Company's BASi product line.