Analysts at JMP Securities began coverage on shares of Cogentix Medical, Inc. (NASDAQ:CGNT) in a research note issued to investors on Friday, The Fly reports. The brokerage set an “outperform” rating on the medical device company’s stock.

Separately, Zacks Investment Research cut Cogentix Medical from a “buy” rating to a “hold” rating in a research note on Tuesday.

Shares of Cogentix Medical (NASDAQ:CGNT) opened at 2.86 on Friday. The firm’s 50-day moving average is $2.48 and its 200-day moving average is $1.97. The firm’s market capitalization is $174.21 million. Cogentix Medical has a 52 week low of $1.37 and a 52 week high of $3.26.

Cogentix Medical (NASDAQ:CGNT) last announced its quarterly earnings data on Tuesday, August 1st. The medical device company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Cogentix Medical had a negative return on equity of 13.83% and a negative net margin of 35.88%. The business had revenue of $14.06 million for the quarter, compared to analysts’ expectations of $13.90 million. Equities analysts anticipate that Cogentix Medical will post ($0.03) EPS for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in CGNT. Northern Trust Corp increased its position in shares of Cogentix Medical by 0.4% during the second quarter. Northern Trust Corp now owns 73,926 shares of the medical device company’s stock valued at $129,000 after buying an additional 326 shares during the period. Renaissance Technologies LLC increased its position in shares of Cogentix Medical by 2.3% during the first quarter. Renaissance Technologies LLC now owns 562,996 shares of the medical device company’s stock valued at $1,013,000 after buying an additional 12,459 shares during the period. Finally, Broadfin Capital LLC increased its position in shares of Cogentix Medical by 45.2% during the second quarter. Broadfin Capital LLC now owns 1,094,544 shares of the medical device company’s stock valued at $1,905,000 after buying an additional 340,771 shares during the period. Hedge funds and other institutional investors own 12.67% of the company’s stock.

About Cogentix Medical

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).

The Fly

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