Inotiv (NASDAQ:NOTV) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Inotiv (NASDAQ:NOTV) posted its quarterly earnings data on Wednesday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.10), Zacks reports. Inotiv had a negative net margin of 22.10% and a negative return on equity of 15.86%.

Inotiv Stock Down 6.9 %

Shares of NOTV traded down $0.31 during mid-day trading on Wednesday, hitting $4.18. 813,127 shares of the company traded hands, compared to its average volume of 622,475. Inotiv has a 1-year low of $1.23 and a 1-year high of $11.42. The business has a 50 day moving average of $4.41 and a 200 day moving average of $2.79. The company has a quick ratio of 1.22, a current ratio of 1.37 and a debt-to-equity ratio of 2.29. The company has a market capitalization of $108.72 million, a PE ratio of -1.00 and a beta of 3.58.

Insider Buying and Selling

In other Inotiv news, CEO Robert Jr. Leasure sold 22,700 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $4.15, for a total value of $94,205.00. Following the sale, the chief executive officer now owns 1,030,209 shares in the company, valued at approximately $4,275,367.35. This represents a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael J. Harrington acquired 10,000 shares of the stock in a transaction on Friday, December 6th. The stock was bought at an average price of $3.98 per share, for a total transaction of $39,800.00. Following the transaction, the director now owns 37,500 shares in the company, valued at approximately $149,250. This represents a 36.36 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 71,029 shares of company stock worth $314,248 and have sold 26,872 shares worth $112,854. 7.80% of the stock is owned by corporate insiders.

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.