Wesbanco Bank Inc. Makes New Investment in IntriCon Co. (NASDAQ:IIN)

Wesbanco Bank Inc. purchased a new position in IntriCon Co. (NASDAQ:IIN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,253 shares of the technology company’s stock, valued at approximately $426,000. Wesbanco Bank Inc. owned approximately 0.21% of IntriCon at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. BNP Paribas Arbitrage SA bought a new position in shares of IntriCon in the 1st quarter valued at $40,000. First Mercantile Trust Co. purchased a new position in shares of IntriCon during the 2nd quarter worth $76,000. Bank of America Corp DE boosted its stake in shares of IntriCon by 250.9% during the 4th quarter. Bank of America Corp DE now owns 10,478 shares of the technology company’s stock worth $277,000 after acquiring an additional 7,492 shares during the last quarter. Perritt Capital Management Inc. purchased a new position in shares of IntriCon during the 2nd quarter worth $280,000. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of IntriCon during the 2nd quarter worth $441,000. Institutional investors own 77.66% of the company’s stock.

NASDAQ IIN traded up $0.27 on Friday, hitting $20.25. The stock had a trading volume of 77,863 shares, compared to its average volume of 91,932. The business’s fifty day moving average price is $18.07 and its 200 day moving average price is $22.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.02 and a quick ratio of 2.19. IntriCon Co. has a 52-week low of $16.81 and a 52-week high of $68.15. The stock has a market cap of $174.99 million, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 7.57 and a beta of 0.72.

IntriCon (NASDAQ:IIN) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.57) EPS for the quarter, missing the 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 analysts’ expectations of $29.32 million. As a group, sell-side analysts anticipate that IntriCon Co. will post 0.22 EPS for the current year.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of IntriCon from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. B. Riley set a $36.00 price target on IntriCon and gave the company a “buy” rating in a report on Wednesday, August 7th. Stifel Nicolaus set a $36.00 price target on IntriCon and gave the company a “buy” rating in a report on Friday, July 19th. Finally, ValuEngine raised IntriCon from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 5th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. IntriCon presently has an average rating of “Buy” and a consensus price target of $38.75.

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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Institutional Ownership by Quarter for IntriCon (NASDAQ:IIN)

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