Morgan Stanley began coverage on shares of Cognex (NASDAQ:CGNX) in a research note published on Monday, The Fly reports. The brokerage issued an equal weight rating on the scientific and technical instruments company’s stock.
Other analysts also recently issued reports about the company. Zacks Investment Research raised Cognex from a hold rating to a buy rating and set a $56.00 price objective for the company in a research note on Tuesday, April 24th. Northcoast Research set a $56.00 target price on Cognex and gave the stock a buy rating in a research note on Tuesday, July 31st. JPMorgan Chase & Co. cut their target price on Cognex from $62.50 to $42.00 and set a hold rating for the company in a research note on Tuesday, May 1st. Robert W. Baird reissued a hold rating and set a $48.00 target price on shares of Cognex in a research note on Tuesday, July 31st. Finally, Raymond James raised Cognex from a market perform rating to an outperform rating in a research note on Tuesday, May 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Cognex presently has an average rating of Hold and an average price target of $54.76.
CGNX opened at $52.43 on Monday. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 37.45 and a beta of 1.58. Cognex has a 52 week low of $39.90 and a 52 week high of $72.99.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, July 30th. The scientific and technical instruments company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $211.26 million during the quarter, compared to the consensus estimate of $204.87 million. Cognex had a return on equity of 22.95% and a net margin of 20.57%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 EPS. equities research analysts predict that Cognex will post 1.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Friday, August 17th will be paid a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Thursday, August 16th. Cognex’s dividend payout ratio (DPR) is 12.41%.
In other news, Director Jerry A. Schneider sold 2,500 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $52.50, for a total transaction of $131,250.00. Following the completion of the transaction, the director now directly owns 4,500 shares of the company’s stock, valued at approximately $236,250. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Anthony Sun sold 10,000 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $53.01, for a total value of $530,100.00. Following the transaction, the director now directly owns 284,262 shares of the company’s stock, valued at $15,068,728.62. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Cognex by 103.1% in 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 acquiring an additional 2,435,314 shares during the period. Bank of New York Mellon Corp grew its holdings 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 worth $368,509,000 after acquiring an additional 1,124,420 shares during the period. BlackRock Inc. grew its holdings 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 worth $792,687,000 after acquiring an additional 1,060,494 shares during the period. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Cognex in the 2nd quarter worth approximately $45,935,000. Finally, Eagle Asset Management Inc. grew its holdings in shares of Cognex by 41.4% in 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 acquiring an additional 980,194 shares during the period. 88.33% of the stock is owned by institutional investors and hedge funds.
Cognex Co is a computer and technology company in the Electronic Equipment & Instruments industry.
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