Zacks Investment Research Lowers IntriCon (NASDAQ:IIN) to Sell

Zacks Investment Research cut shares of IntriCon (NASDAQ:IIN) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

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. “

Separately, Colliers Securities reiterated a buy rating and issued a $27.00 price objective on shares of IntriCon in a report on Monday, November 1st.

Shares of IIN opened at $15.73 on Wednesday. The stock has a 50 day moving average of $16.55 and a 200 day moving average of $19.29. IntriCon has a 12 month low of $12.47 and a 12 month high of $28.16. The company has a market capitalization of $143.77 million, a price-to-earnings ratio of 157.30, a PEG ratio of 3.33 and a beta of 1.31.

IntriCon (NASDAQ:IIN) last posted its quarterly earnings data on Sunday, November 7th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. IntriCon had a return on equity of 7.52% and a net margin of 0.78%. The company had revenue of $31.05 million during the quarter, compared to analyst estimates of $31.10 million. During the same quarter last year, the company earned $0.07 earnings per share. Sell-side analysts anticipate that IntriCon will post 0.67 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in IntriCon during the 3rd quarter valued at $31,000. Morgan Stanley increased its stake in shares of IntriCon by 35.4% in the 2nd quarter. Morgan Stanley now owns 4,740 shares of the technology company’s stock worth $107,000 after purchasing an additional 1,240 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of IntriCon in the 2nd quarter worth $232,000. Perritt Capital Management Inc. increased its stake in shares of IntriCon by 9.7% in the 3rd quarter. Perritt Capital Management Inc. now owns 18,041 shares of the technology company’s stock worth $328,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Tibra Equities Europe Ltd purchased a new stake in shares of IntriCon in the 2nd quarter worth $353,000. 63.43% of the stock is currently owned by institutional investors and hedge funds.

About IntriCon

Intricon Corp. engages in the design, development, engineering, manufacture, and distribution of miniature and micro-miniature body-worn devices. It operates through the Body-Worn Device and Hearing Health Direct-To-End Consumer segments. The Body-Worn Device segment comprises medical, hearing health, and professional audio markets.

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