Zacks Investment Research Lowers Cogentix Medical Inc (CGNT) to Strong Sell

Zacks Investment Research lowered shares of Cogentix Medical Inc (NASDAQ:CGNT) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning.

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 (NASDAQ:CGNT) opened at 1.99 on Tuesday. The firm’s market capitalization is $93.42 million. The firm has a 50-day moving average of $1.98 and a 200 day moving average of $1.96. Cogentix Medical has a 12-month low of $0.71 and a 12-month high of $2.99.

Cogentix Medical (NASDAQ:CGNT) last issued its earnings results on Thursday, March 9th. The medical device company reported ($0.40) EPS for the quarter. Cogentix Medical had a negative net margin of 8.83% and a negative return on equity of 17.44%. On average, equities research analysts expect that Cogentix Medical will post ($0.02) earnings per share for the current year.

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An institutional investor recently raised its position in Cogentix Medical stock. Renaissance Technologies LLC increased its stake in shares of Cogentix Medical Inc (NASDAQ:CGNT) by 23.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 550,537 shares of the medical device company’s stock after buying an additional 104,400 shares during the period. Renaissance Technologies LLC owned about 0.91% of Cogentix Medical worth $1,107,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 12.74% of the company’s stock.

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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