IntriCon (IIN) Rating Increased to Strong-Buy at Zacks Investment Research

IntriCon (NASDAQ:IIN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $23.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.58% from the company’s current price.

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. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $17.00.

IntriCon (NASDAQ IIN) remained flat at $$19.90 during trading on Wednesday. The company’s stock had a trading volume of 83,300 shares, compared to its average volume of 95,233. The stock has a market cap of $136.69, a P/E ratio of -198.98, a PEG ratio of 1.66 and a beta of 0.32. IntriCon has a 12-month low of $6.05 and a 12-month high of $21.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.45 and a quick ratio of 0.54.

In other news, VP Michael Geraci sold 2,737 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $17.60, for a total value of $48,171.20. Following the transaction, the vice president now owns 22,011 shares of the company’s stock, valued at $387,393.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 21.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacific Alternative Asset Management Company LLC increased its stake in IntriCon by 73.4% in the second quarter. Pacific Alternative Asset Management Company LLC now owns 292,853 shares of the technology company’s stock valued at $2,394,000 after acquiring an additional 123,942 shares during the last quarter. EAM Investors LLC bought a new position in IntriCon in the third quarter valued at $588,000. Algert Global LLC bought a new position in IntriCon in the third quarter valued at $396,000. Essex Investment Management Co. LLC bought a new position in IntriCon in the third quarter valued at $267,000. Finally, Vanguard Group Inc. increased its stake in IntriCon by 5.8% in the second quarter. Vanguard Group Inc. now owns 21,813 shares of the technology company’s stock valued at $174,000 after acquiring an additional 1,200 shares during the last quarter. 33.89% of the stock is currently owned by institutional investors and hedge funds.

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IntriCon Company Profile

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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