Wells Fargo & Company MN raised its stake in IntriCon Co. (NASDAQ:IIN) by 93.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,027 shares of the technology company’s stock after acquiring an additional 10,177 shares during the period. Wells Fargo & Company MN owned approximately 0.24% of IntriCon worth $1,182,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CAPROCK Group Inc. acquired a new position in shares of IntriCon during the 3rd quarter worth $251,000. Cypress Capital Management LLC WY acquired a new position in shares of IntriCon during the 3rd quarter worth $314,000. GSA Capital Partners LLP acquired a new position in shares of IntriCon during the 2nd quarter worth $226,000. Rhumbline Advisers acquired a new position in shares of IntriCon during the 2nd quarter worth $232,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of IntriCon during the 3rd quarter worth $348,000. 59.51% of the stock is owned by hedge funds and other institutional investors.
In other IntriCon news, VP Greg Gruenhagen sold 1,500 shares of the company’s stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $25.37, for a total value of $38,055.00. Following the sale, the vice president now owns 2,455 shares in the company, valued at approximately $62,283.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 21.20% of the company’s stock.
A number of research firms have recently commented on IIN. Zacks Investment Research cut IntriCon from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Stifel Nicolaus boosted their price objective on IntriCon from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. TheStreet lowered IntriCon from a “b” rating to a “c+” rating in a research report on Monday, October 1st. BidaskClub lowered IntriCon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 13th. Finally, ValuEngine lowered IntriCon from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. IntriCon currently has an average rating of “Buy” and an average target price of $50.25.
Shares of IIN stock opened at $27.40 on Friday. The firm has a market cap of $237.19 million, a P/E ratio of 95.52, a PEG ratio of 2.57 and a beta of 1.30. IntriCon Co. has a twelve month low of $16.70 and a twelve month high of $76.80.
IntriCon (NASDAQ:IIN) last issued its quarterly earnings data on Monday, November 5th. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $30.13 million for the quarter, compared to analyst estimates of $30.23 million. IntriCon had a return on equity of 13.06% and a net margin of 4.82%. On average, analysts forecast that IntriCon Co. will post 0.72 earnings per share for the current fiscal year.
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 bio-telemetry devices, hearing healthcare, and professional audio communication devices markets.
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