Zacks Investment Research downgraded shares of IntriCon (NASDAQ:IIN) from a buy rating to a hold rating in a research note released on Wednesday morning.
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, TheStreet raised shares of IntriCon from a c rating to a b- rating in a report on Wednesday, November 8th.
IntriCon (NASDAQ:IIN) last released its quarterly earnings results on Monday, February 12th. The technology company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. The business had revenue of $22.23 million during the quarter. IntriCon had a net margin of 2.04% and a return on equity of 10.82%. equities analysts anticipate that IntriCon will post 0.62 earnings per share for the current year.
In other IntriCon news, VP Michael Geraci sold 2,737 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $17.60, for a total transaction of $48,171.20. Following the completion of the transaction, the vice president now directly owns 22,011 shares of the company’s stock, valued at approximately $387,393.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.40% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in IIN. Northern Trust Corp grew its holdings in IntriCon by 10.2% during the 2nd quarter. Northern Trust Corp now owns 21,040 shares of the technology company’s stock worth $172,000 after acquiring an additional 1,942 shares in the last quarter. Vanguard Group Inc. grew its holdings in IntriCon by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 21,813 shares of the technology company’s stock worth $174,000 after acquiring an additional 1,200 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of IntriCon in the 3rd quarter worth about $267,000. EAM Investors LLC bought a new position in shares of IntriCon in the 3rd quarter worth about $588,000. Finally, Algert Global LLC bought a new position in shares of IntriCon in the 3rd quarter worth about $396,000. 31.45% of the stock is owned by institutional investors.
IntriCon Corporation is engaged in designing, developing, engineering, manufacturing and distributing body-worn devices. The Company operates through body-worn device segment. The Company serves the body-worn device market by designing, developing, engineering and manufacturing micro-miniature products, microelectronics, micro-mechanical assemblies, complete assemblies and software solutions, primarily for the value hearing health market, the medical bio-telemetry market and the professional audio communication market.
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