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 topic of several other reports. DA Davidson boosted their price objective on shares of Cognex from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Cowen restated an “outperform” rating and set a $60.00 price objective (up from $50.00) on shares of Cognex in a research note on Monday, September 23rd. Morgan Stanley lowered their price objective on shares of Cognex from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Robert W. Baird boosted their price objective on shares of Cognex from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, BidaskClub raised shares of Cognex from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Cognex has an average rating of “Hold” and a consensus target price of $50.09.
Cognex stock opened at $48.92 on Thursday. The firm has a market capitalization of $8.06 billion, a PE ratio of 40.04 and a beta of 2.08. The company’s 50-day moving average is $47.22 and its 200-day moving average is $46.77. Cognex has a fifty-two week low of $34.88 and a fifty-two week high of $57.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.92 and a quick ratio of 7.07.
Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.05. The company had revenue of $199.00 million for the quarter, compared to analyst estimates of $194.65 million. Cognex had a net margin of 26.03% and a return on equity of 17.81%. Cognex’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. As a group, analysts expect that Cognex will post 0.86 EPS for the current year.
In related news, Director Dianne M. Parrotte sold 900 shares of Cognex stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $45.00, for a total transaction of $40,500.00. Following the completion of the sale, the director now owns 19,700 shares of the company’s stock, valued at approximately $886,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CGNX. Advisor Group Inc. boosted its holdings in Cognex by 12.1% in the 1st quarter. Advisor Group Inc. now owns 20,782 shares of the scientific and technical instruments company’s stock valued at $1,059,000 after purchasing an additional 2,245 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Cognex by 21.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 123,244 shares of the scientific and technical instruments company’s stock valued at $6,268,000 after purchasing an additional 21,967 shares during the period. NumerixS Investment Technologies Inc bought a new stake in Cognex in the 1st quarter valued at about $160,000. Rockefeller Capital Management L.P. boosted its holdings in Cognex by 39.5% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,795 shares of the scientific and technical instruments company’s stock valued at $91,000 after purchasing an additional 508 shares during the period. Finally, Riverhead Capital Management LLC boosted its holdings in Cognex by 1.6% in the 1st quarter. Riverhead Capital Management LLC now owns 55,859 shares of the scientific and technical instruments company’s stock valued at $2,841,000 after purchasing an additional 900 shares during the period. 91.52% of the stock is owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.