Analysts Set Cognex Co. (CGNX) Target Price at $66.40

Shares of Cognex Co. (NASDAQ:CGNX) have earned a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $66.40.

CGNX has been the topic of a number of research reports. ValuEngine cut shares of Cognex from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Canaccord Genuity lifted their price target on shares of Cognex from $47.50 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, October 31st. BidaskClub raised shares of Cognex from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research raised shares of Cognex from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Wednesday, November 1st. Finally, Robert W. Baird lifted their price target on shares of Cognex from $50.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st.

Cognex (CGNX) traded down $3.04 during trading hours on Friday, hitting $58.13. 2,057,654 shares of the company were exchanged, compared to its average volume of 1,477,797. The company has a market cap of $10,050.00, a PE ratio of 42.67 and a beta of 1.44. Cognex has a 52 week low of $34.06 and a 52 week high of $72.99.

In other Cognex news, Director Theodor Krantz sold 15,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $134.05, for a total transaction of $2,010,750.00. Following the sale, the director now owns 26,250 shares of the company’s stock, valued at approximately $3,518,812.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick Alias sold 5,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $143.54, for a total transaction of $717,700.00. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of Cognex by 134.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 11,799 shares of the scientific and technical instruments company’s stock valued at $1,001,000 after purchasing an additional 6,777 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Cognex by 25.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 60,543 shares of the scientific and technical instruments company’s stock valued at $5,140,000 after purchasing an additional 12,292 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Cognex during the 2nd quarter valued at $597,000. FMR LLC grew its position in shares of Cognex by 1.9% during the 2nd quarter. FMR LLC now owns 902,500 shares of the scientific and technical instruments company’s stock valued at $76,623,000 after purchasing an additional 16,551 shares in the last quarter. Finally, Advisor Group Inc. grew its position in shares of Cognex by 7.0% during the 2nd quarter. Advisor Group Inc. now owns 7,376 shares of the scientific and technical instruments company’s stock valued at $626,000 after purchasing an additional 483 shares in the last quarter. 44.37% of the stock is currently owned by institutional investors and hedge funds.

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Cognex Company Profile

Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture 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.

Analyst Recommendations for Cognex (NASDAQ:CGNX)

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