JMP Securities started coverage on shares of Cogentix Medical, Inc. (NASDAQ:CGNT) in a research note issued to investors on Friday, October 6th, Marketbeat.com reports. The brokerage issued an outperform rating and a $5.00 price objective on the medical device company’s stock.
Separately, Zacks Investment Research upgraded shares of Cogentix Medical from a sell rating to a hold rating in a research report on Tuesday, July 4th.
Shares of Cogentix Medical (CGNT) opened at 2.94 on Friday. Cogentix Medical has a one year low of $1.37 and a one year high of $3.26. The stock has a 50 day moving average of $2.71 and a 200-day moving average of $2.04. The stock’s market capitalization is $179.09 million.
Cogentix Medical (NASDAQ:CGNT) last posted its quarterly earnings results on Tuesday, August 1st. The medical device company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $14.06 million during 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 13.83%. Equities analysts predict that Cogentix Medical will post ($0.02) earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in shares of Cogentix Medical by 0.4% in the second quarter. Northern Trust Corp now owns 73,926 shares of the medical device company’s stock worth $129,000 after acquiring an additional 326 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Cogentix Medical by 2.3% in the first quarter. Renaissance Technologies LLC now owns 562,996 shares of the medical device company’s stock worth $1,013,000 after acquiring an additional 12,459 shares in the last quarter. Finally, Broadfin Capital LLC increased its position in shares of Cogentix Medical by 45.2% in the second quarter. Broadfin Capital LLC now owns 1,094,544 shares of the medical device company’s stock worth $1,905,000 after acquiring an additional 340,771 shares in the last quarter. 12.67% of the stock is currently owned by institutional investors and hedge funds.
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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