Zacks Investment Research downgraded shares of Cogentix Medical, Inc. (NASDAQ:CGNT) from a buy rating to a hold rating in a research report report published on Tuesday morning.

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 (CGNT) traded up 8.566% on Tuesday, reaching $3.105. 141,106 shares of the company’s stock were exchanged. Cogentix Medical has a 12-month low of $1.37 and a 12-month high of $3.26. The firm has a 50 day moving average of $2.48 and a 200-day moving average of $1.97. The company’s market cap is $189.14 million.

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

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Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 12,459 shares in the last quarter. Broadfin Capital LLC lifted its holdings 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 purchasing an additional 340,771 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings 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 purchasing an additional 326 shares in the last quarter. 12.67% of the stock is currently owned by institutional investors.

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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