Wells Fargo & Company MN increased its position in shares of IntriCon Co. (NASDAQ:IIN) by 93.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 21,027 shares of the technology company’s stock after purchasing an additional 10,177 shares during the period. Wells Fargo & Company MN’s holdings in IntriCon were worth $1,182,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of IIN. Chicago Equity Partners LLC purchased a new stake in IntriCon during the third quarter valued at about $1,124,000. Engineers Gate Manager LP purchased a new stake in IntriCon during the third quarter valued at about $422,000. US Bancorp DE raised its position in IntriCon by 220.4% during the third quarter. US Bancorp DE now owns 56,694 shares of the technology company’s stock valued at $3,186,000 after purchasing an additional 39,000 shares in the last quarter. Cypress Capital Management LLC WY purchased a new stake in IntriCon during the third quarter valued at about $314,000. Finally, Acadian Asset Management LLC raised its position in IntriCon by 3.1% during the third quarter. Acadian Asset Management LLC now owns 56,179 shares of the technology company’s stock valued at $3,157,000 after purchasing an additional 1,715 shares in the last quarter. 59.51% of the stock is currently owned by institutional investors and hedge funds.
IIN has been the topic of a number of research reports. Zacks Investment Research downgraded IntriCon from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Stifel Nicolaus raised their price target on IntriCon from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 21st. TheStreet downgraded IntriCon from a “b” rating to a “c+” rating in a research report on Monday, October 1st. BidaskClub downgraded IntriCon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 13th. Finally, ValuEngine downgraded IntriCon from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $50.25.
IntriCon (NASDAQ:IIN) last released its quarterly earnings data on Monday, November 5th. The technology company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $30.13 million for the quarter, compared to the consensus estimate of $30.23 million. IntriCon had a return on equity of 13.06% and a net margin of 4.82%. As a group, research analysts expect that IntriCon Co. will post 0.72 EPS for the current year.
In other news, VP Greg Gruenhagen sold 1,500 shares of IntriCon stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $25.37, for a total value of $38,055.00. Following the transaction, the vice president now owns 2,455 shares in the company, valued at $62,283.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 21.20% of the stock is currently owned by insiders.
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IntriCon Company Profile
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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