IntriCon (NASDAQ:IIN) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of IntriCon (NASDAQ:IIN) from a sell rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports. They currently have $23.00 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. “

Several other equities analysts have also issued reports on IIN. ValuEngine raised IntriCon from a buy rating to a strong-buy rating in a research note on Thursday, September 5th. B. Riley set a $36.00 price target on IntriCon and gave the company a buy rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus set a $36.00 price target on IntriCon and gave the company a buy rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $32.25.

Shares of IIN opened at $21.33 on Wednesday. IntriCon has a 52-week low of $16.81 and a 52-week high of $68.15. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.19 and a current ratio of 3.02. The business’s 50 day moving average price is $18.46 and its two-hundred day moving average price is $22.36. The firm has a market cap of $179.20 million, a PE ratio of 48.71, a price-to-earnings-growth ratio of 7.75 and a beta of 0.72.

IntriCon (NASDAQ:IIN) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.59). IntriCon had a negative net margin of 1.23% and a positive return on equity of 4.21%. The business had revenue of $29.34 million during the quarter, compared to analyst estimates of $29.32 million. Research analysts predict that IntriCon will post 0.22 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of IntriCon by 7.6% during the second quarter. BlackRock Inc. now owns 586,435 shares of the technology company’s stock worth $13,698,000 after purchasing an additional 41,346 shares during the period. Vanguard Group Inc. raised its position in shares of IntriCon by 0.4% during the second quarter. Vanguard Group Inc. now owns 420,572 shares of the technology company’s stock worth $9,825,000 after purchasing an additional 1,470 shares during the period. Dimensional Fund Advisors LP raised its position in shares of IntriCon by 11.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 343,667 shares of the technology company’s stock worth $9,066,000 after purchasing an additional 34,031 shares during the period. Marshall Wace LLP raised its position in shares of IntriCon by 51.4% during the first quarter. Marshall Wace LLP now owns 244,688 shares of the technology company’s stock worth $6,137,000 after purchasing an additional 83,103 shares during the period. Finally, Cortina Asset Management LLC raised its position in shares of IntriCon by 13.5% during the second quarter. Cortina Asset Management LLC now owns 216,680 shares of the technology company’s stock worth $5,062,000 after purchasing an additional 25,762 shares during the period. 77.66% of the stock is currently owned by hedge funds and other institutional investors.

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 biotelemetry devices, hearing healthcare, and professional audio communication devices markets.

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