Northern Trust Corp Acquires 8,134 Shares of Inotiv, Inc. (NASDAQ:NOTV)

Northern Trust Corp raised its stake in shares of Inotiv, Inc. (NASDAQ:NOTV) by 20.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,372 shares of the company’s stock after purchasing an additional 8,134 shares during the period. Northern Trust Corp owned 0.19% of Inotiv worth $200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOTV. Dimensional Fund Advisors LP boosted its stake in Inotiv by 24.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 31,626 shares of the company’s stock worth $131,000 after buying an additional 6,216 shares during the period. Marshall Wace LLP purchased a new position in shares of Inotiv in the 4th quarter worth approximately $737,000. XTX Topco Ltd acquired a new stake in shares of Inotiv in the 4th quarter worth $236,000. Mariner LLC grew its position in Inotiv by 32.0% during the 4th quarter. Mariner LLC now owns 121,816 shares of the company’s stock worth $504,000 after purchasing an additional 29,500 shares during the last quarter. Finally, Kennedy Capital Management LLC purchased a new stake in Inotiv during the 4th quarter valued at about $5,250,000. 18.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Lake Street Capital reduced their price objective on Inotiv from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

Inotiv Stock Performance

NOTV opened at $2.71 on Tuesday. The company has a market cap of $93.10 million, a price-to-earnings ratio of -0.59 and a beta of 4.03. Inotiv, Inc. has a 52-week low of $1.15 and a 52-week high of $6.48. The firm’s fifty day simple moving average is $2.13 and its two-hundred day simple moving average is $3.27. 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 (NASDAQ:NOTV) last posted its quarterly earnings results 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 net margin of 25.40% and a negative return on equity of 15.41%. The firm had revenue of $124.32 million for the quarter, compared to the consensus estimate of $123.97 million. Equities analysts anticipate that Inotiv, Inc. will post -0.79 earnings per share for the current fiscal year.

Inotiv Company 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.