Cogentix Medical, Inc. (NASDAQ:CGNT) Lifted to “Hold” at Zacks Investment Research

Cogentix Medical, Inc. (NASDAQ:CGNT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, July 4th.

According to Zacks, “Cogentix Medical, Inc. is a medical device company which designs, develops, manufactures and markets proprietary technologies serving the urology market. The company’s primary product consists of Urgent(R) PC Neuromodulation System and EndoSheath System. It operates primarily in Orangeburg, New York, The Netherlands and the United Kingdom. Cogentix Medical, Inc., formerly known as Vision-Sciences Inc., is headquartered in Orangeburg, New York. “

Shares of Cogentix Medical (CGNT) opened at 2.05 on Tuesday. The firm’s 50 day moving average is $1.74 and its 200-day moving average is $1.82. Cogentix Medical has a 52 week low of $1.01 and a 52 week high of $2.99. The firm’s market cap is $123.89 million.

Cogentix Medical (NASDAQ:CGNT) last released its quarterly earnings data on Tuesday, May 2nd. The medical device company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.01. The company had revenue of $12.95 million during the quarter, compared to the consensus estimate of $13.14 million. Cogentix Medical had a negative net margin of 42.47% and a negative return on equity of 22.70%. Equities research analysts predict that Cogentix Medical will post ($0.05) EPS for the current year.

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An institutional investor recently raised its position in Cogentix Medical stock. Renaissance Technologies LLC raised its position in shares of Cogentix Medical, Inc. (NASDAQ:CGNT) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 562,996 shares of the medical device company’s stock after buying an additional 12,459 shares during the period. Renaissance Technologies LLC owned about 0.93% of Cogentix Medical worth $1,013,000 as of its most recent filing with the SEC. 12.76% of the stock is currently owned by hedge funds and other institutional investors.

Cogentix Medical Company Profile

Cogentix Medical, Inc is a global medical device company. The Company designs, develops, manufactures and markets a line of fiber-optic and video endoscopy products under the PrimeSight brand that are used across various surgical specialties in diagnostic and treatment procedures. The Company also offers the Urgent PC Neuromodulation System (Urgent PC Systems), a device that delivers percutaneous tibial nerve stimulation (PTNS), for the office-based treatment of overactive bladder (OAB).

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