Zacks Investment Research lowered shares of Cogentix Medical, Inc. (NASDAQ:CGNT) from a buy rating to a hold rating in a research note issued to investors on Tuesday, October 3rd.
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. “
Cogentix Medical (CGNT) traded down 1.32% during midday trading on Tuesday, hitting $2.99. The stock had a trading volume of 44,534 shares. The company’s 50 day moving average price is $2.63 and its 200-day moving average price is $2.02. The stock’s market capitalization is $182.13 million. Cogentix Medical has a 52 week low of $1.37 and a 52 week high of $3.26.
Cogentix Medical (NASDAQ:CGNT) last issued its quarterly earnings data on Tuesday, August 1st. The medical device company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Cogentix Medical had a negative net margin of 35.88% and a negative return on equity of 13.83%. The firm had revenue of $14.06 million during the quarter, compared to the consensus estimate of $13.90 million. Equities analysts anticipate that Cogentix Medical will post ($0.02) earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Northern Trust Corp boosted its holdings in Cogentix Medical by 0.4% in the 2nd quarter. Northern Trust Corp now owns 73,926 shares of the medical device company’s stock worth $129,000 after buying an additional 326 shares during the period. Renaissance Technologies LLC lifted its stake in Cogentix Medical by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 562,996 shares of the medical device company’s stock worth $1,013,000 after purchasing an additional 12,459 shares in the last quarter. Finally, Broadfin Capital LLC lifted its stake in Cogentix Medical by 45.2% in the 2nd quarter. Broadfin Capital LLC now owns 1,094,544 shares of the medical device company’s stock worth $1,905,000 after purchasing an additional 340,771 shares in the last quarter. 12.67% of the stock is owned by 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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