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Cogentix Medical (CGNT) Looks Good: Stock Adds 13.3% in Session

Zacks Equity Research
Updated

Cogentix Medical, Inc. CGNT was a big mover last session, as the company saw its shares rise over 13% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the company’s recent uptrend – as the stock is now up 23.6% over past one month time frame.

The shares rose after the company announced that it has entered into a definitive merger agreement, under which Laborie Medical Technologies will acquire all of the outstanding shares of Cogentix Medical for a total consideration of approximately $239 million.

Cogentix Medical has seen one positive estimate revisions in the past two months. Its Zacks Consensus Estimate for the current quarter has also revised upward over the same time frame. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.    

Cogentix Medical currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

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Cogentix Medical, Inc. Price and Consensus

Cogentix Medical, Inc. Price and Consensus | Cogentix Medical, Inc. Quote

A better ranked stock worth considering in the  Medical - Instruments industry is Accuray Incorporated ARAY which sports a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank  stocks here.

Is CGNT going up? Or down? Predict to see what others think: Up or Down

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