Intricon Corp (IIN) Receives a Buy from B.Riley FBR


B.Riley FBR analyst Andrew D’silva maintained a Buy rating on Intricon Corp (IIN) yesterday and set a price target of $36. The company’s shares closed last Monday at $17.43, close to its 52-week low of $16.81.

D’silva observed:

“Since our last update note on 8/7 on IntriCon (IIN-Buy, $36 PT), we hosted an NDR in Minneapolis and St. Medtronic—IIN’s largest customer, accounting for 58% of LTM sales—reported F1Q20 (July-quarter) results. Our takeaways from the aforementioned events are that IIN continues to be overlooked despite being profitable, having nearly $45M in net cash on its books, and having significant top- and bottom-line growth opportunities that include: 1) continued growth from Medtronic’s Diabetes Group (MDG), despite increased competition (primarily from Tandem); 2) potential new medical customer wins; 3) the pending guidance from the FDA related to the OTC 4) low- hanging opportunities that have the potential to improve gross margins by ~1k bps over time.”

According to TipRanks.com, D’silva is a 3-star analyst with an average return of 1.2% and a 37.4% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cumberland Pharmaceuticals Inc, Oramed Pharmaceuticals, and Sensus Healthcare Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intricon Corp with a $36 average price target.

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Based on Intricon Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.91 million. In comparison, last year the company had a net profit of $2.01 million.

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Intricon Corp. engages in the design, development, engineering, manufacture, and distribution of miniature and micro-miniature body-worn devices. It operates through the Body-Worn Device and Hearing Health Direct-To-Consumer segments. The Body-Worn Device segment comprises medical, hearing health, and professional audio markets.

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