Equities research analysts at Berenberg Bank began coverage on shares of Cognex (NASDAQ:CGNX) in a research report issued on Monday, The Fly reports. The firm set a “buy” rating on the scientific and technical instruments company’s stock.

Several other equities analysts also recently commented on the stock. BidaskClub downgraded shares of Cognex from a “hold” rating to a “sell” rating in a report on Tuesday, November 13th. Daiwa Capital Markets set a $49.00 price target on shares of Cognex and gave the company a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded shares of Cognex from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Morgan Stanley cut their price target on shares of Cognex from $52.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 30th. Finally, Needham & Company LLC cut their price target on shares of Cognex from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $51.55.

Cognex stock opened at $42.70 on Monday. Cognex has a twelve month low of $36.16 and a twelve month high of $72.99. The stock has a market capitalization of $7.35 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 2.37 and a beta of 1.90.

Cognex (NASDAQ:CGNX) last posted its earnings results on Monday, October 29th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $232.22 million for the quarter, compared to the consensus estimate of $227.15 million. Cognex had a net margin of 18.52% and a return on equity of 20.88%. The business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. On average, research analysts anticipate that Cognex will post 1.2 earnings per share for the current year.

Cognex announced that its board has initiated a stock repurchase plan on Monday, October 29th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other Cognex news, Director Anthony Sun sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $56.04, for a total value of $560,400.00. Following the completion of the sale, the director now directly owns 264,262 shares of the company’s stock, valued at approximately $14,809,242.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $54.29, for a total transaction of $271,450.00. Following the completion of the sale, the director now directly owns 7,000 shares of the company’s stock, valued at $380,030. The disclosure for this sale can be found here. 5.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in shares of Cognex by 5.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 21,502 shares of the scientific and technical instruments company’s stock worth $960,000 after purchasing an additional 1,104 shares during the period. Advisor Partners LLC lifted its position in shares of Cognex by 26.6% in the 2nd quarter. Advisor Partners LLC now owns 5,418 shares of the scientific and technical instruments company’s stock worth $242,000 after purchasing an additional 1,140 shares during the period. KBC Group NV lifted its position in shares of Cognex by 2.8% in the 2nd quarter. KBC Group NV now owns 42,494 shares of the scientific and technical instruments company’s stock worth $1,896,000 after purchasing an additional 1,144 shares during the period. Intrust Bank NA lifted its position in shares of Cognex by 11.7% in the 2nd quarter. Intrust Bank NA now owns 13,085 shares of the scientific and technical instruments company’s stock worth $583,000 after purchasing an additional 1,366 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Cognex by 16.4% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,822 shares of the scientific and technical instruments company’s stock worth $548,000 after purchasing an additional 1,382 shares during the period. 90.47% of the stock is owned by hedge funds and other institutional investors.

About Cognex

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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