Research Analysts Set Expectations for Inotiv, Inc.’s Q1 2023 Earnings (NASDAQ:NOTV)

Inotiv, Inc. (NASDAQ:NOTV – Get Rating) – Equities researchers at Jefferies Financial Group issued their Q1 2023 EPS estimates for Inotiv in a research note issued on Thursday, January 19th. Jefferies Financial Group analyst D. Windley anticipates that the company will earn ($0.44) per share for the quarter. Jefferies Financial Group currently has a “Hold” rating and a $8.00 target price on the stock. The consensus estimate for Inotiv’s current full-year earnings is $1.57 per share. Jefferies Financial Group also issued estimates for Inotiv’s Q2 2023 earnings at $0.04 EPS, Q3 2023 earnings at $0.29 EPS and Q4 2023 earnings at $0.46 EPS.

Other analysts also recently issued research reports about the stock. TheStreet downgraded shares of Inotiv from a “c-” rating to a “d+” rating in a report on Wednesday, November 9th. Lake Street Capital upgraded shares of Inotiv from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, January 11th. Finally, Craig Hallum decreased their price target on shares of Inotiv from $64.00 to $34.00 in a research note on Wednesday, January 11th.

Inotiv Stock Performance

Shares of NOTV stock opened at $6.60 on Friday. The firm has a 50-day moving average of $6.33 and a 200-day moving average of $14.42. The company has a market cap of $169.01 million, a P/E ratio of -0.48 and a beta of 2.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.60 and a quick ratio of 1.15. Inotiv has a one year low of $3.64 and a one year high of $42.63.

Hedge Funds Weigh In On Inotiv

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOTV. ClariVest Asset Management LLC raised its holdings in Inotiv by 52.2% during the 2nd quarter. ClariVest Asset Management LLC now owns 30,900 shares of the company’s stock valued at $297,000 after acquiring an additional 10,600 shares during the period. Ophir Asset Management Pty Ltd boosted its stake in Inotiv by 6.8% in the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,125,473 shares of the company’s stock worth $8,193,000 after purchasing an additional 71,377 shares during the period. King Luther Capital Management Corp grew its holdings in Inotiv by 78.9% during the 3rd quarter. King Luther Capital Management Corp now owns 113,340 shares of the company’s stock valued at $1,910,000 after buying an additional 50,000 shares in the last quarter. Invenire Partners LP bought a new stake in shares of Inotiv during the third quarter valued at about $1,601,000. Finally, Jump Financial LLC lifted its holdings in shares of Inotiv by 22.1% in the third quarter. Jump Financial LLC now owns 31,200 shares of the company’s stock worth $526,000 after buying an additional 5,640 shares in the last quarter. Institutional investors own 52.04% of the company’s stock.

Inotiv Company Profile

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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: Research Services and Research Products. The Research Services segment provides screening and pharmacological testing, preclinical safety testing, formulation development, regulatory compliance, and quality control testing.