Zacks Investment Research upgraded shares of IntriCon (NASDAQ:IIN) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $39.00 target price 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. “
A number of other brokerages have also issued reports on IIN. Dougherty & Co lowered shares of IntriCon from a buy rating to a neutral rating and set a $12.00 target price on the stock. in a research report on Tuesday, September 11th. Stifel Nicolaus upped their target price on shares of IntriCon from $65.00 to $70.00 and gave the stock a buy rating in a research report on Friday, September 21st. B. Riley upped their target price on shares of IntriCon from $62.00 to $73.00 and gave the stock a buy rating in a research report on Wednesday, August 22nd. TheStreet lowered shares of IntriCon from a b rating to a c+ rating in a research report on Monday, October 1st. Finally, BidaskClub lowered shares of IntriCon from a strong-buy rating to a buy rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $48.50.
IntriCon (NASDAQ:IIN) last released its quarterly earnings results on Monday, November 5th. The technology company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The firm had revenue of $30.13 million for the quarter, compared to analyst estimates of $30.23 million. IntriCon had a net margin of 4.82% and a return on equity of 22.73%. On average, research analysts expect that IntriCon will post 0.72 EPS for the current fiscal year.
In other news, Director Philip Irving Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $74.18, for a total transaction of $741,800.00. Following the transaction, the director now directly owns 6,667 shares in the company, valued at $494,558.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in shares of IntriCon during the second quarter worth approximately $741,000. Columbus Circle Investors bought a new stake in IntriCon in the third quarter valued at approximately $2,829,000. Integrated Investment Consultants LLC bought a new stake in IntriCon in the second quarter valued at approximately $308,000. Rhumbline Advisers bought a new stake in IntriCon in the second quarter valued at approximately $232,000. Finally, CAPROCK Group Inc. bought a new stake in IntriCon in the third quarter valued at approximately $251,000. 40.70% of the stock is owned by institutional investors and hedge funds.
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-Consumer. It offers micro-miniature products, microelectronics; micro-mechanical assemblies; high-precision injection-molded plastic components; and assemblies and software solutions for medical bio-telemetry devices, hearing healthcare, and professional audio communication devices markets.
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