According to Zacks, “Cognex Corporation designs, develops, manufactures, and markets machine vision systems, or computers that can see. Cognex is the world’s leader in the machine vision industry, having shipped more than 200,000 vision systems, representing nearly $1.5 billion in cumulative revenue, since the company’s founding time. Cognex’s Modular Vision Systems Division, headquartered in Natick, Massachusetts, specializes in machine vision systems that are used for automating the manufacture of a wide range of discrete items and for assuring their quality. Cognex’s Surface Inspection Systems Division, headquartered in Alameda, California, specializes in machine vision systems that are used for inspecting the surfaces of products manufactured in a continuous fashion, such as metals, papers and plastics. “
CGNX has been the subject of a number of other reports. BidaskClub upgraded Cognex from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective (up from $47.00) on shares of Cognex in a report on Tuesday, February 12th. Gordon Haskett began coverage on Cognex in a report on Wednesday, April 17th. They issued a “hold” rating and a $54.00 price objective for the company. Finally, ValuEngine upgraded Cognex from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Cognex has an average rating of “Hold” and a consensus price target of $50.10.
Shares of CGNX traded up $1.72 during midday trading on Tuesday, reaching $56.84. The stock had a trading volume of 923,864 shares, compared to its average volume of 1,207,667. Cognex has a 12-month low of $34.88 and a 12-month high of $59.18. The stock has a market capitalization of $9.53 billion, a P/E ratio of 45.84, a PEG ratio of 2.99 and a beta of 1.99.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Thursday, February 14th. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Cognex had a return on equity of 19.75% and a net margin of 27.19%. The firm had revenue of $193.29 million during the quarter, compared to analysts’ expectations of $184.82 million. During the same period in the prior year, the business earned ($0.16) EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts expect that Cognex will post 1.26 EPS for the current fiscal year.
In related news, Director Theodor Krantz sold 30,000 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total transaction of $1,595,400.00. Following the completion of the sale, the director now directly owns 52,500 shares in the company, valued at approximately $2,791,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in Cognex during the 1st quarter valued at about $470,000. Blue Fin Capital Inc. purchased a new stake in Cognex during the 1st quarter valued at about $293,000. Brinker Capital Inc. lifted its holdings in Cognex by 44.3% in the 1st quarter. Brinker Capital Inc. now owns 47,576 shares of the scientific and technical instruments company’s stock worth $2,420,000 after buying an additional 14,613 shares during the period. Iberiabank Corp lifted its holdings in Cognex by 3.8% in the 1st quarter. Iberiabank Corp now owns 6,224 shares of the scientific and technical instruments company’s stock worth $317,000 after buying an additional 229 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its holdings in Cognex by 4.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 45,129 shares of the scientific and technical instruments company’s stock worth $2,295,000 after buying an additional 1,900 shares during the period. Institutional investors own 95.50% of the company’s stock.
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. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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