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Mary Theresa Coelho, a director at Inotiv, Inc. (NASDAQ:NOTV), a $95 million market cap company currently rated ’FAIR’ by InvestingPro’s comprehensive health scoring system, sold 5,500 shares of the company’s common stock on April 1, 2025, according to a recent SEC filing. The shares were sold at a weighted average price of $2.3483, totaling approximately $12,915, with the current stock price at $2.87. These transactions were conducted to cover taxes associated with restricted stock units that vested on March 31, 2025. The company operates with a debt-to-equity ratio of 2.63 and has experienced significant cash burn recently. Following the sale, Coelho retains ownership of 74,303 shares in the company. For deeper insights into insider transactions and 8 additional key ProTips, visit InvestingPro.
In other recent news, Inotiv Inc. reported a challenging first quarter for fiscal year 2024, with both earnings per share (EPS) and revenue falling short of analyst expectations. The company posted an EPS of -$1.02, missing the forecast of -$0.80, and revenue decreased to $119.9 million, below the anticipated $127.43 million. Inotiv also reached a $7.55 million settlement agreement with Freese and Nichols, Inc. to resolve a lawsuit regarding wastewater treatment facility design. This settlement will be reflected in the company’s financial statements once the payment is received. Additionally, Inotiv shareholders approved an amendment to increase the number of shares in its equity incentive plan by 2,250,000 shares. Ernst & Young LLP was ratified as the company’s independent registered public accounting firm for fiscal year 2025. Shareholders also re-elected two Class I board members, R. Matthew Neff and Robert W. Leasure, Jr., who will serve until the 2028 annual meeting. These developments highlight Inotiv’s ongoing efforts to manage financial challenges and operational adjustments.
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