Several other research analysts have also recently weighed in on CGNX. Sanford C. Bernstein cut shares of Cognex from an outperform rating to a market perform rating and set a $46.00 price target for the company. in a report on Tuesday, April 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Cognex from a hold rating to a buy rating and set a $63.00 price target for the company in a report on Wednesday, April 17th. Morgan Stanley set a $47.00 price target on shares of Cognex and gave the company a hold rating in a report on Friday, May 3rd. ValuEngine upgraded shares of Cognex from a sell rating to a hold rating in a report on Monday, February 25th. Finally, Gordon Haskett started coverage on shares of Cognex in a report on Wednesday, April 17th. They issued a hold rating and a $54.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $52.20.
NASDAQ:CGNX traded down $0.35 during trading hours on Tuesday, hitting $44.59. The stock had a trading volume of 12,395 shares, compared to its average volume of 1,541,925. Cognex has a one year low of $34.88 and a one year high of $59.18. The company has a market capitalization of $7.79 billion, a PE ratio of 35.69, a PEG ratio of 2.98 and a beta of 1.95.
Cognex (NASDAQ:CGNX) last issued its earnings results on Monday, April 29th. The scientific and technical instruments company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Cognex had a net margin of 26.55% and a return on equity of 18.90%. The firm had revenue of $173.50 million during the quarter, compared to the consensus estimate of $172.16 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that Cognex will post 1.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Thursday, May 16th. Cognex’s payout ratio is 16.13%.
In related news, Director Theodor Krantz sold 30,000 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $53.18, for a total transaction of $1,595,400.00. Following the completion of the transaction, the director now owns 52,500 shares in the company, valued at $2,791,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Curran sold 50,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.01, for a total transaction of $2,450,500.00. Following the transaction, the insider now owns 12,500 shares of the company’s stock, valued at approximately $612,625. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc boosted its holdings in Cognex by 0.7% during the third quarter. Vanguard Group Inc now owns 14,774,139 shares of the scientific and technical instruments company’s stock worth $824,693,000 after purchasing an additional 101,127 shares during the last quarter. Bank of New York Mellon Corp raised its position in Cognex by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 8,760,670 shares of the scientific and technical instruments company’s stock worth $338,776,000 after acquiring an additional 231,403 shares in the last quarter. Janus Henderson Group PLC raised its position in Cognex by 73.5% during the first quarter. Janus Henderson Group PLC now owns 5,351,993 shares of the scientific and technical instruments company’s stock worth $272,203,000 after acquiring an additional 2,268,034 shares in the last quarter. Eagle Asset Management Inc. raised its position in Cognex by 2.6% during the first quarter. Eagle Asset Management Inc. now owns 3,774,876 shares of the scientific and technical instruments company’s stock worth $191,990,000 after acquiring an additional 95,161 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Cognex by 3,621.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,422,295 shares of the scientific and technical instruments company’s stock worth $89,000 after acquiring an additional 3,330,340 shares in the last quarter. Institutional investors and hedge funds own 97.20% 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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