Zacks: Cogentix Medical, Inc. (CGNT) Given Consensus Recommendation of “Strong Buy” by Brokerages

Cogentix Medical, Inc. (NASDAQ:CGNT) has earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus price target of $4.50 for the company, according to Zacks. Zacks has also assigned Cogentix Medical an industry rank of 119 out of 265 based on the ratings given to related companies.

A number of brokerages have weighed in on CGNT. Aegis began coverage on Cogentix Medical in a research report on Friday. They set a “buy” rating and a $4.75 target price for the company. Zacks Investment Research lowered Cogentix Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. TheStreet raised Cogentix Medical from a “d+” rating to a “c” rating in a research report on Thursday, November 9th. Roth Capital began coverage on Cogentix Medical in a research report on Wednesday, November 8th. They set a “buy” rating and a $4.00 target price for the company. Finally, JMP Securities began coverage on Cogentix Medical in a research report on Friday, October 6th. They set an “outperform” rating and a $5.00 target price for the company.

Shares of Cogentix Medical (NASDAQ:CGNT) traded up $0.19 during midday trading on Tuesday, reaching $3.05. The company’s stock had a trading volume of 180,769 shares, compared to its average volume of 62,524. Cogentix Medical has a 1-year low of $1.55 and a 1-year high of $3.26.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGNT. Northern Trust Corp raised its position in shares of 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 acquiring an additional 326 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Cogentix Medical in the 3rd quarter worth $152,000. Renaissance Technologies LLC raised its position in shares of Cogentix Medical by 2.3% in the 1st 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 raised its position in shares of 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 acquiring an additional 340,771 shares in the last quarter. 13.33% of the stock is owned by hedge funds and other institutional investors.

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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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