IntriCon (NASDAQ:IIN) Cut to “Sell” at Zacks Investment Research

IntriCon (NASDAQ:IIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, 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. “

Other equities analysts have also recently issued research reports about the company. ValuEngine cut IntriCon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 4th. B. Riley decreased their price objective on IntriCon from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. IntriCon presently has an average rating of “Buy” and a consensus price target of $31.50.

Shares of IIN traded down $0.23 during midday trading on Friday, hitting $16.97. The company had a trading volume of 48,400 shares, compared to its average volume of 74,609. The company’s 50-day simple moving average is $17.88 and its 200-day simple moving average is $18.76. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.33 and a current ratio of 3.19. The firm has a market capitalization of $150.93 million, a P/E ratio of -39.47, a P/E/G ratio of 3.49 and a beta of 0.70. IntriCon has a 1 year low of $16.74 and a 1 year high of $28.49.

Hedge funds have recently bought and sold shares of the stock. Tocqueville Asset Management L.P. purchased a new stake in IntriCon during the fourth quarter worth approximately $3,667,000. Stifel Financial Corp lifted its stake in IntriCon by 27.9% in the third quarter. Stifel Financial Corp now owns 161,992 shares of the technology company’s stock valued at $3,148,000 after buying an additional 35,342 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in IntriCon by 107.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 31,825 shares of the technology company’s stock valued at $573,000 after buying an additional 16,475 shares during the last quarter. Teton Advisors Inc. lifted its stake in IntriCon by 10.9% in the third quarter. Teton Advisors Inc. now owns 173,724 shares of the technology company’s stock valued at $3,377,000 after buying an additional 17,045 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in IntriCon by 51.0% in the third quarter. Russell Investments Group Ltd. now owns 266,340 shares of the technology company’s stock valued at $5,178,000 after buying an additional 89,913 shares during the last quarter. Hedge funds and other institutional investors own 79.47% 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-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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