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, August 4th. The firm presently has a $2.50 price objective on the medical device company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 14.42% from the company’s previous close.

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 4.048% during midday trading on Friday, hitting $2.185. 47,091 shares of the company traded hands. The company’s market cap is $133.10 million. The stock has a 50 day moving average price of $1.93 and a 200-day moving average price of $1.84. Cogentix Medical has a 12-month low of $1.05 and a 12-month high of $2.99.

Cogentix Medical (NASDAQ:CGNT) last released its earnings results on Tuesday, August 1st. The medical device company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $14.06 million for the quarter, compared to analysts’ expectations of $13.90 million. Analysts expect that Cogentix Medical will post ($0.03) EPS for the current year.

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Several large investors have recently made changes to their positions in CGNT. Broadfin Capital LLC boosted its stake 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 valued at $1,905,000 after buying an additional 340,771 shares during the last quarter. Northern Trust Corp boosted its stake 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 valued at $129,000 after buying an additional 326 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake 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 valued at $1,013,000 after buying an additional 12,459 shares during the last quarter. 12.32% of the stock is 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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