Cogentix Medical, Inc. (CGNT) Raised to “Buy” at Zacks Investment Research
Cogentix Medical, Inc. (NASDAQ:CGNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $2.50 target price on the medical device company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 4.17% from the company’s current price.
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 (NASDAQ:CGNT) traded up 5.19% on Friday, reaching $2.40. 90,908 shares of the company’s stock were exchanged. The stock’s market cap is $143.75 million. The firm has a 50 day moving average of $1.75 and a 200-day moving average of $1.82. Cogentix Medical has a one year low of $1.05 and a one year high of $2.99.
Cogentix Medical (NASDAQ:CGNT) last issued its quarterly earnings results on Tuesday, August 1st. The medical device company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $14.06 million for the quarter, compared to analyst estimates of $13.90 million. Cogentix Medical had a negative net margin of 35.88% and a negative return on equity of 15.08%. Equities research analysts forecast that Cogentix Medical will post ($0.03) EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Cogentix Medical, Inc. (CGNT) Raised to “Buy” at Zacks Investment Research” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/04/cogentix-medical-inc-cgnt-raised-to-buy-at-zacks-investment-research.html.
An institutional investor recently raised its position in Cogentix Medical stock. Renaissance Technologies LLC raised its position in Cogentix Medical, Inc. (NASDAQ:CGNT) by 2.3% during the first quarter, according to its most recent 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 approximately 0.93% of Cogentix Medical worth $1,013,000 at the end of the most recent reporting period. 12.72% 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cogentix Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogentix Medical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.