Inotiv (NASDAQ:NOTV) Posts Earnings Results, Misses Expectations By $0.10 EPS

Inotiv (NASDAQ:NOTV) posted its quarterly earnings results 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 %

NASDAQ NOTV traded down $0.31 on Wednesday, hitting $4.18. 813,127 shares of the stock traded hands, compared to its average volume of 622,475. The company has a current ratio of 1.37, a quick ratio of 1.22 and a debt-to-equity ratio of 2.29. The stock has a 50-day moving average of $4.41 and a 200 day moving average of $2.79. Inotiv has a twelve month low of $1.23 and a twelve month high of $11.42. The company has a market capitalization of $108.72 million, a P/E ratio of -1.00 and a beta of 3.58.

Insiders Place Their Bets

In other Inotiv news, Director Nigel Brown purchased 7,500 shares of the stock in a transaction dated Tuesday, December 10th. The shares were bought at an average cost of $4.26 per share, with a total value of $31,950.00. Following the completion of the acquisition, the director now owns 65,537 shares of the company’s stock, valued at approximately $279,187.62. This trade represents a 12.92 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Gregory Beattie purchased 30,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were bought at an average price of $4.75 per share, for a total transaction of $142,500.00. Following the completion of the transaction, the chief operating officer now directly owns 161,761 shares in the company, valued at $768,364.75. This represents a 22.77 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 71,029 shares of company stock valued at $314,248 and sold 26,872 shares valued at $112,854. 7.80% of the stock is currently 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.