Cognex Co. (NASDAQ:CGNX) Given Average Recommendation of “Hold” by Analysts

Shares of Cognex Co. (NASDAQ:CGNXGet Rating) have earned an average rating of “Hold” from the fifteen ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $78.82.

A number of analysts have commented on the stock. Cowen decreased their price target on shares of Cognex from $95.00 to $75.00 in a research note on Tuesday, May 10th. The Goldman Sachs Group decreased their price target on shares of Cognex from $77.00 to $67.00 and set a “sell” rating for the company in a research note on Monday, March 7th. TheStreet lowered shares of Cognex from a “b-” rating to a “c+” rating in a research note on Tuesday. Zacks Investment Research lowered shares of Cognex from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. Finally, DA Davidson decreased their price target on shares of Cognex from $85.00 to $80.00 in a research note on Friday, February 18th.

In related news, Director Dianne M. Parrotte purchased 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average cost of $46.00 per share, with a total value of $138,000.00. Following the acquisition, the director now owns 3,608 shares of the company’s stock, valued at $165,968. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Cognex by 1.2% during the first quarter. BlackRock Inc. now owns 19,443,442 shares of the scientific and technical instruments company’s stock valued at $1,500,064,000 after purchasing an additional 229,114 shares during the last quarter. American Century Companies Inc. lifted its holdings in Cognex by 31.5% during the first quarter. American Century Companies Inc. now owns 5,938,568 shares of the scientific and technical instruments company’s stock valued at $458,160,000 after purchasing an additional 1,422,175 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Cognex by 11.7% during the fourth quarter. Alliancebernstein L.P. now owns 5,931,739 shares of the scientific and technical instruments company’s stock valued at $461,252,000 after purchasing an additional 619,196 shares during the last quarter. State Street Corp lifted its holdings in Cognex by 0.8% during the first quarter. State Street Corp now owns 5,778,896 shares of the scientific and technical instruments company’s stock valued at $445,842,000 after purchasing an additional 45,764 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Cognex by 2.6% during the fourth quarter. Nordea Investment Management AB now owns 3,349,981 shares of the scientific and technical instruments company’s stock valued at $261,248,000 after buying an additional 85,293 shares during the period. 88.85% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CGNX opened at $46.16 on Friday. The company has a fifty day moving average of $64.97 and a 200-day moving average of $69.44. The firm has a market capitalization of $8.02 billion, a P/E ratio of 29.78 and a beta of 1.63. Cognex has a twelve month low of $44.60 and a twelve month high of $92.17.

Cognex (NASDAQ:CGNXGet Rating) last released its quarterly earnings data on Thursday, May 5th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.08. The company had revenue of $282.40 million during the quarter, compared to analyst estimates of $277.23 million. Cognex had a net margin of 25.67% and a return on equity of 19.48%. Cognex’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. Equities research analysts anticipate that Cognex will post 1.52 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 20th will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, May 19th. Cognex’s dividend payout ratio (DPR) is currently 16.77%.

About Cognex (Get Rating)

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing 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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