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. “
A number of other research analysts also recently commented on the company. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Needham & Company LLC boosted their target price on Ceridian HCM to $60.00 and gave the company a buy rating in a research note on Tuesday, April 30th. BidaskClub downgraded Vertex Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, July 9th. Sanford C. Bernstein downgraded Encana from an outperform rating to a market perform rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley set a $226.00 price target on S&P Global and gave the stock a hold rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $51.80.
Shares of NASDAQ CGNX opened at $42.42 on Wednesday. The company has a 50-day moving average price of $44.24. The company has a quick ratio of 7.46, a current ratio of 8.31 and a debt-to-equity ratio of 0.01. Cognex has a one year low of $34.88 and a one year high of $59.18. The stock has a market capitalization of $7.28 billion, a P/E ratio of 34.77, a P/E/G ratio of 2.84 and a beta of 2.05.
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 analysts’ consensus estimates of $0.16 by $0.03. Cognex had a return on equity of 18.90% and a net margin of 26.55%. The firm had revenue of $173.50 million for the quarter, compared to the consensus estimate of $172.16 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Cognex will post 1 EPS for the current fiscal year.
In other news, insider John J. Curran sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 12,500 shares in the company, valued at approximately $612,625. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CGNX. Mirae Asset Global Investments Co. Ltd. raised its position in Cognex by 59.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,382 shares of the scientific and technical instruments company’s stock worth $440,000 after buying an additional 4,233 shares during the last quarter. Raymond James & Associates raised its position in Cognex by 10.3% during the 4th quarter. Raymond James & Associates now owns 156,000 shares of the scientific and technical instruments company’s stock worth $6,033,000 after buying an additional 14,613 shares during the last quarter. Advisor Group Inc. raised its position in Cognex by 34.9% during the 4th quarter. Advisor Group Inc. now owns 18,537 shares of the scientific and technical instruments company’s stock worth $717,000 after buying an additional 4,792 shares during the last quarter. Northern Trust Corp raised its position in Cognex by 4.6% during the 4th quarter. Northern Trust Corp now owns 1,536,665 shares of the scientific and technical instruments company’s stock worth $59,424,000 after buying an additional 68,202 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Cognex by 7.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 148,274 shares of the scientific and technical instruments company’s stock worth $5,389,000 after buying an additional 10,606 shares during the last quarter. Institutional investors own 94.49% of the company’s stock.
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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