Inotiv (NASDAQ:NOTV) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Inotiv (NASDAQ:NOTV) from a strong-buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “Inotiv Inc. is a pharmaceutical development company. It involved in providing contract research services and monitoring instruments to emerging pharmaceutical companies. Inotiv Inc., formerly known as Bioanalytical Systems Inc., is based in WEST LAFAYETTE, Ind. “

Several other equities analysts have also weighed in on the stock. TheStreet raised shares of Inotiv from a c rating to a b- rating in a report on Friday, December 17th. Craig Hallum began coverage on shares of Inotiv in a research note on Monday, September 20th. They set a buy rating and a $45.00 target price on the stock. Finally, Colliers Securities reissued a buy rating and set a $71.00 price target on shares of Inotiv in a research report on Wednesday, December 8th.

Shares of NOTV stock opened at $32.86 on Wednesday. The company has a 50 day simple moving average of $45.95 and a two-hundred day simple moving average of $36.72. The company has a quick ratio of 3.42, a current ratio of 3.43 and a debt-to-equity ratio of 1.47. Inotiv has a 12 month low of $11.21 and a 12 month high of $60.66.

Inotiv (NASDAQ:NOTV) last released its quarterly earnings data on Thursday, December 16th. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.10). Inotiv had a net margin of 6.73% and a return on equity of 1.02%. During the same quarter in the prior year, the business posted ($0.16) EPS. On average, research analysts expect that Inotiv will post 1.47 earnings per share for the current fiscal year.

In related news, VP Philip A. Downing sold 3,057 shares of the stock in a transaction on Wednesday, December 22nd. The stock was sold at an average price of $43.04, for a total transaction of $131,573.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.46% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new position in shares of Inotiv in the 2nd quarter valued at about $27,000. Legal & General Group Plc purchased a new stake in Inotiv during the 2nd quarter worth approximately $37,000. Macquarie Group Ltd. purchased a new stake in Inotiv during the 3rd quarter worth approximately $39,000. Citigroup Inc. increased its holdings in shares of Inotiv by 174.3% in the 3rd quarter. Citigroup Inc. now owns 1,687 shares of the company’s stock valued at $49,000 after acquiring an additional 1,072 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Inotiv in the 3rd quarter valued at approximately $66,000. Hedge funds and other institutional investors own 49.71% of the company’s stock.

Inotiv Company Profile

Inotiv, Inc operates as a pharmaceutical development company, which engages in the provision of drug discovery, development services, and analytical instruments. The firm operates through the following business segments: Contract Research Services and Research Products. The Contract Research Services segment provides screening and pharmacological testing, preclinical safety testing, formulation development, regulatory compliance, and quality control testing.

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