IntriCon (NASDAQ:IIN) Lifted to “Strong-Buy” at Zacks Investment Research


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Zacks Investment Research upgraded shares of IntriCon (NASDAQ:IIN) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning, Zacks.com reports. Zacks Investment Research currently has $20.00 price target on the technology company’s stock.

According to Zacks, “IntriCon designs, develops, engineers and manufactures microminiaturized medical and electronic products. The Company supplies microminiaturized components, systems and molded plastic parts, primarily to the hearing instrument manufacturing industry, as well as the computer, government, electronics, telecommunications and medical equipment industries. The Company has facilities in the United States, Asia and Europe. “

IntriCon stock opened at $18.25 on Monday. The business’s 50-day simple moving average is $17.49 and its 200 day simple moving average is $13.99. The stock has a market cap of $163.21 million, a price-to-earnings ratio of -55.30 and a beta of 1.23. IntriCon has a 12-month low of $9.84 and a 12-month high of $19.70.

IntriCon (NASDAQ:IIN) last issued its earnings results on Monday, November 9th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.12. The company had revenue of $27.37 million for the quarter, compared to analyst estimates of $24.57 million. IntriCon had a negative net margin of 2.84% and a negative return on equity of 0.80%. Research analysts predict that IntriCon will post -0.11 earnings per share for the current fiscal year.

In related news, VP Michael Geraci sold 8,600 shares of IntriCon stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $17.49, for a total transaction of $150,414.00. Following the completion of the sale, the vice president now directly owns 33,248 shares of the company’s stock, valued at $581,507.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.10% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Royce & Associates LP grew its holdings in IntriCon by 9.6% during the third quarter. Royce & Associates LP now owns 772,777 shares of the technology company’s stock valued at $9,412,000 after purchasing an additional 67,483 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of IntriCon by 13.3% during the third quarter. Gamco Investors INC. ET AL now owns 541,423 shares of the technology company’s stock worth $6,595,000 after purchasing an additional 63,673 shares in the last quarter. Acuitas Investments LLC grew its holdings in shares of IntriCon by 38.2% in the 3rd quarter. Acuitas Investments LLC now owns 140,309 shares of the technology company’s stock valued at $1,709,000 after buying an additional 38,751 shares during the period. Conestoga Capital Advisors LLC increased its position in shares of IntriCon by 55.1% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 87,725 shares of the technology company’s stock valued at $1,068,000 after buying an additional 31,175 shares in the last quarter. Finally, Perkins Capital Management Inc. acquired a new stake in IntriCon during the 3rd quarter worth $341,000. Institutional investors and hedge funds own 67.93% of the company’s stock.

About IntriCon

IntriCon Corporation, together with its subsidiaries, designs, develops, engineers, manufactures, and distributes body-worn devices in the United States, Europe, Asia, and internationally. The company operates in two segments, Body Worn Devices and Hearing Health Direct-To-End-Consumer. It offers micro-miniature products, microelectronics, micro-mechanical assemblies, high-precision injection-molded plastic components, and assemblies and software solutions for medical biotelemetry devices, hearing healthcare, and professional audio communication devices markets.

Read More: What Does a Sell-Side Analyst Rating Mean?

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