Cognex Co. (NASDAQ:CGNX)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $57.56 and last traded at $57.52, with a volume of 96173 shares trading hands. The stock had previously closed at $56.19.
A number of brokerages recently issued reports on CGNX. Robert W. Baird lifted their target price on Cognex from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. UBS Group started coverage on Cognex in a research note on Thursday, December 12th. They issued a “neutral” rating and a $52.00 price target for the company. BidaskClub upgraded Cognex from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. DA Davidson raised their price target on Cognex from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Zacks Investment Research downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Cognex currently has an average rating of “Hold” and a consensus target price of $50.27.
The company has a quick ratio of 6.90, a current ratio of 7.71 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $54.16 and a two-hundred day simple moving average of $48.94. The stock has a market capitalization of $9.80 billion, a P/E ratio of 46.08 and a beta of 2.09.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. The firm had revenue of $183.33 million during the quarter, compared to the consensus estimate of $177.78 million. Cognex had a return on equity of 14.21% and a net margin of 22.55%. The business’s revenue was down 21.1% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. Sell-side analysts predict that Cognex Co. will post 0.82 earnings per share for the current fiscal year.
In other news, CEO Robert Willett sold 100,000 shares of Cognex stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $50.49, for a total transaction of $5,049,000.00. Following the completion of the transaction, the chief executive officer now directly owns 100,000 shares in the company, valued at approximately $5,049,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodor Krantz sold 30,000 shares of Cognex stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $51.87, for a total value of $1,556,100.00. Following the transaction, the director now owns 52,500 shares of the company’s stock, valued at $2,723,175. The disclosure for this sale can be found here. Insiders have sold a total of 466,202 shares of company stock valued at $24,246,619 over the last quarter. 5.60% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Pinebridge Investments L.P. raised its stake in Cognex by 0.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 26,388 shares of the scientific and technical instruments company’s stock valued at $1,266,000 after buying an additional 232 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of Cognex by 1.3% in the 4th quarter. IFM Investors Pty Ltd now owns 18,950 shares of the scientific and technical instruments company’s stock worth $1,062,000 after purchasing an additional 238 shares in the last quarter. Circle Wealth Management LLC increased its stake in shares of Cognex by 4.6% in the 2nd quarter. Circle Wealth Management LLC now owns 7,686 shares of the scientific and technical instruments company’s stock worth $369,000 after purchasing an additional 336 shares in the last quarter. Schwab Charitable Fund increased its stake in shares of Cognex by 8.9% in the 3rd quarter. Schwab Charitable Fund now owns 4,790 shares of the scientific and technical instruments company’s stock worth $235,000 after purchasing an additional 390 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in shares of Cognex by 42.7% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,408 shares of the scientific and technical instruments company’s stock worth $69,000 after purchasing an additional 421 shares in the last quarter. Institutional investors own 91.38% of the company’s stock.
About Cognex (NASDAQ:CGNX)
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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