CGNX has been the topic of a number of other reports. Zacks Investment Research cut Cognex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Needham & Company LLC cut Cognex from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Gordon Haskett initiated coverage on Cognex in a research report on Wednesday, April 17th. They set a “hold” rating and a $54.00 price objective on the stock. ValuEngine upgraded Cognex from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Finally, Morgan Stanley set a $47.00 price objective on Cognex and gave the company a “hold” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $52.20.
CGNX opened at $44.70 on Tuesday. The company has a market cap of $7.80 billion, a PE ratio of 37.27, a PEG ratio of 2.98 and a beta of 2.03. The company has a current ratio of 8.31, a quick ratio of 7.46 and a debt-to-equity ratio of 0.01. Cognex has a 1 year low of $34.88 and a 1 year high of $59.18.
Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Monday, April 29th. The scientific and technical instruments company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $173.50 million for the quarter, compared to analysts’ expectations of $172.16 million. Cognex had a return on equity of 18.90% and a net margin of 26.55%. Cognex’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. As a group, research analysts predict that Cognex will post 1.02 earnings per share for the current year.
In other Cognex news, insider John J. Curran sold 50,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.01, for a total value of $2,450,500.00. Following the sale, the insider now directly owns 12,500 shares in the company, valued at $612,625. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.
A number of large investors have recently made changes to their positions in CGNX. TIAA CREF Investment Management LLC grew its position in Cognex by 12.3% in the third quarter. TIAA CREF Investment Management LLC now owns 635,449 shares of the scientific and technical instruments company’s stock valued at $35,471,000 after acquiring an additional 69,485 shares during the period. Vanguard Group Inc grew its position in Cognex by 0.7% in the third quarter. Vanguard Group Inc now owns 14,774,139 shares of the scientific and technical instruments company’s stock valued at $824,693,000 after acquiring an additional 101,127 shares during the period. Bank of Montreal Can grew its position in Cognex by 15.0% in the fourth quarter. Bank of Montreal Can now owns 29,689 shares of the scientific and technical instruments company’s stock valued at $1,149,000 after acquiring an additional 3,875 shares during the period. TD Asset Management Inc. grew its position in Cognex by 15.0% in the fourth quarter. TD Asset Management Inc. now owns 18,479 shares of the scientific and technical instruments company’s stock valued at $715,000 after acquiring an additional 2,410 shares during the period. Finally, M&T Bank Corp grew its position in Cognex by 2.0% in the fourth quarter. M&T Bank Corp now owns 51,246 shares of the scientific and technical instruments company’s stock valued at $1,981,000 after acquiring an additional 1,021 shares during the period. Hedge funds and other institutional investors own 94.53% 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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