BidaskClub downgraded shares of Cognex (NASDAQ:CGNX) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

A number of other equities analysts have also weighed in on the stock. Needham & Company LLC upgraded shares of Cognex from a hold rating to a buy rating and set a $52.00 price target on the stock in a report on Tuesday, October 16th. Morgan Stanley set a $52.00 price target on shares of Cognex and gave the company a hold rating in a report on Thursday, October 11th. Zacks Investment Research lowered shares of Cognex from a hold rating to a sell rating in a report on Wednesday, October 3rd. DA Davidson began coverage on shares of Cognex in a report on Tuesday, October 2nd. They issued a neutral rating and a $57.00 price target on the stock. Finally, Northcoast Research lowered shares of Cognex from a buy rating to a neutral rating and set a $54.00 price target on the stock. in a report on Friday, August 24th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Cognex currently has an average rating of Hold and an average price target of $54.28.

NASDAQ CGNX traded down $0.66 during mid-day trading on Friday, reaching $41.24. 1,559,301 shares of the stock were exchanged, compared to its average volume of 1,450,898. Cognex has a 1-year low of $39.83 and a 1-year high of $72.99. The firm has a market cap of $7.09 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 2.32 and a beta of 1.64.

Cognex (NASDAQ:CGNX) last announced its earnings results on Monday, July 30th. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. Cognex had a net margin of 20.57% and a return on equity of 22.95%. The firm had revenue of $211.26 million for the quarter, compared to analyst estimates of $204.87 million. During the same quarter last year, the business earned $0.63 earnings per share. Cognex’s revenue was up 18.6% compared to the same quarter last year. Analysts anticipate that Cognex will post 1.19 EPS for the current fiscal year.

In other news, Director Jerry A. Schneider sold 2,500 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $52.50, for a total value of $131,250.00. Following the transaction, the director now owns 4,500 shares of the company’s stock, valued at approximately $236,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Sun sold 10,000 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $53.01, for a total transaction of $530,100.00. Following the completion of the transaction, the director now directly owns 284,262 shares in the company, valued at approximately $15,068,728.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,500 shares of company stock worth $1,493,200. 5.40% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Cognex by 6.3% in the 2nd quarter. BlackRock Inc. now owns 17,769,276 shares of the scientific and technical instruments company’s stock valued at $792,687,000 after acquiring an additional 1,060,494 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Cognex by 15.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,260,702 shares of the scientific and technical instruments company’s stock valued at $368,509,000 after acquiring an additional 1,124,420 shares during the period. Janus Henderson Group PLC increased its stake in Cognex by 103.1% during the 2nd quarter. Janus Henderson Group PLC now owns 4,797,355 shares of the scientific and technical instruments company’s stock worth $214,025,000 after buying an additional 2,435,314 shares during the period. Eagle Asset Management Inc. increased its stake in Cognex by 41.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 3,345,230 shares of the scientific and technical instruments company’s stock worth $149,230,000 after buying an additional 980,194 shares during the period. Finally, Joho Capital LLC increased its stake in Cognex by 24.1% during the 2nd quarter. Joho Capital LLC now owns 3,069,024 shares of the scientific and technical instruments company’s stock worth $136,909,000 after buying an additional 595,358 shares during the period. 90.38% of the stock is currently owned by institutional investors and hedge funds.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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Analyst Recommendations for Cognex (NASDAQ:CGNX)

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