Wall Street analysts expect that IntriCon Co. (NASDAQ:IIN) will report $27.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for IntriCon’s earnings, with the highest sales estimate coming in at $27.55 million and the lowest estimate coming in at $27.10 million. IntriCon reported sales of $27.69 million in the same quarter last year, which indicates a negative year over year growth rate of 1.3%. The business is scheduled to issue its next quarterly earnings results after the market closes on Thursday, February 25th.
According to Zacks, analysts expect that IntriCon will report full-year sales of $99.81 million for the current fiscal year, with estimates ranging from $99.60 million to $100.02 million. For the next financial year, analysts forecast that the firm will report sales of $117.57 million, with estimates ranging from $113.60 million to $121.54 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow IntriCon.
Separately, Zacks Investment Research lowered IntriCon from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 13th.
In other news, VP Michael Geraci sold 7,500 shares of the firm’s stock in a transaction on Monday, December 14th. The stock was sold at an average price of $16.83, for a total transaction of $126,225.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Citigroup Inc. grew its stake in shares of IntriCon by 316.7% during the 4th quarter. Citigroup Inc. now owns 1,692 shares of the technology company’s stock worth $31,000 after acquiring an additional 1,286 shares during the period. JPMorgan Chase & Co. grew its stake in shares of IntriCon by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,428 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,650 shares during the period. Rhumbline Advisers grew its stake in shares of IntriCon by 14.9% during the 4th quarter. Rhumbline Advisers now owns 13,735 shares of the technology company’s stock worth $249,000 after acquiring an additional 1,782 shares during the period. Bank of America Corp DE grew its stake in shares of IntriCon by 84.4% during the 2nd quarter. Bank of America Corp DE now owns 15,836 shares of the technology company’s stock worth $214,000 after acquiring an additional 7,249 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of IntriCon by 6.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,543 shares of the technology company’s stock worth $409,000 after acquiring an additional 1,372 shares during the period. 68.24% of the stock is owned by hedge funds and other institutional investors.
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-End-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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