Cognex Co. (NASDAQ:CGNX) has been given an average rating of “Hold” by the twelve ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $63.00.
Several research firms have recently commented on CGNX. BidaskClub raised shares of Cognex from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research lowered shares of Cognex from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 2nd. ValuEngine lowered shares of Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. JPMorgan Chase & Co. downgraded shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price objective on the stock. in a report on Wednesday, November 8th. Finally, Canaccord Genuity raised their price objective on shares of Cognex from $47.50 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, October 31st.
Shares of Cognex (CGNX) traded up $0.02 during mid-day trading on Monday, hitting $67.04. 972,137 shares of the company were exchanged, compared to its average volume of 2,240,000. The stock has a market cap of $11,610.00, a PE ratio of 49.29 and a beta of 1.50. Cognex has a 12 month low of $31.91 and a 12 month high of $72.99.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The business had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $255.95 million. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The firm’s revenue for the quarter was up 75.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 EPS. equities research analysts forecast that Cognex will post 1.39 EPS for the current fiscal year.
In related news, Director Jeffrey Benjamin Miller sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $124.23, for a total value of $931,725.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Willett sold 100,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $127.19, for a total transaction of $12,719,000.00. Following the completion of the sale, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at $12,719,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,750 shares of company stock worth $18,540,975. Company insiders own 5.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in Cognex by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 133,670 shares of the scientific and technical instruments company’s stock worth $11,349,000 after acquiring an additional 2,551 shares during the period. LMR Partners LLP purchased a new stake in Cognex in the third quarter worth about $8,308,000. DekaBank Deutsche Girozentrale purchased a new stake in Cognex in the third quarter worth about $841,000. Eagle Boston Investment Management Inc. purchased a new stake in shares of Cognex during the third quarter valued at about $265,000. Finally, State Street Corp lifted its position in shares of Cognex by 2.2% during the second quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock valued at $184,153,000 after buying an additional 45,840 shares during the last quarter. 42.10% of the stock is owned by institutional investors.
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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