Cogentix Medical (CGNT) Stock Rating Lowered by Zacks Investment Research

Cogentix Medical (NASDAQ:CGNT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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. “

Several other analysts have also recently issued reports on the stock. Aegis started coverage on shares of Cogentix Medical in a research note on Friday, December 1st. They issued a “buy” rating and a $4.75 target price on the stock. JMP Securities started coverage on shares of Cogentix Medical in a research note on Friday, October 6th. They issued an “outperform” rating and a $5.00 target price on the stock. Roth Capital started coverage on shares of Cogentix Medical in a research note on Wednesday, November 8th. They issued a “buy” rating and a $4.00 target price on the stock. Finally, TheStreet upgraded shares of Cogentix Medical from a “d+” rating to a “c” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $4.06.

Shares of Cogentix Medical (CGNT) traded down $0.03 during mid-day trading on Thursday, hitting $2.81. 23,931 shares of the company were exchanged, compared to its average volume of 46,624. The stock has a market cap of $172.36, a PE ratio of -6.85 and a beta of 0.66. Cogentix Medical has a 12 month low of $1.55 and a 12 month high of $3.34.

A number of hedge funds and other institutional investors have recently bought and sold shares of CGNT. Northern Trust Corp lifted its stake 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 purchasing an additional 326 shares in the last quarter. 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. Finally, Dimensional Fund Advisors LP purchased a new stake in Cogentix Medical in the 3rd quarter worth approximately $152,000. Institutional investors and hedge funds own 13.35% of the company’s stock.

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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).

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