Cognex (NASDAQ:CGNX) PT Lowered to $80.00 at Raymond James

Cognex (NASDAQ:CGNXGet Rating) had its price target decreased by equities researchers at Raymond James from $90.00 to $80.00 in a report issued on Thursday, The Fly reports. Raymond James’ target price suggests a potential upside of 67.01% from the company’s previous close.

Several other equities research analysts also recently weighed in on CGNX. DA Davidson reduced their price target on Cognex from $85.00 to $80.00 in a report on Friday, February 18th. TheStreet cut Cognex from a “b-” rating to a “c+” rating in a research report on Tuesday, May 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 target price on shares of Cognex in a research report on Friday, February 18th. JPMorgan Chase & Co. raised Cognex from an “underweight” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $68.00 in a research report on Friday, February 18th. Finally, The Goldman Sachs Group dropped their target price on Cognex from $77.00 to $67.00 and set a “sell” rating on the stock in a research report on Monday, March 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cognex has a consensus rating of “Hold” and a consensus price target of $72.50.

Shares of NASDAQ CGNX opened at $47.90 on Thursday. The business’s 50 day moving average price is $60.29 and its 200-day moving average price is $67.38. Cognex has a fifty-two week low of $44.60 and a fifty-two week high of $92.17. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 30.90 and a beta of 1.65.

Cognex (NASDAQ:CGNXGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.08. Cognex had a return on equity of 19.48% and a net margin of 25.67%. The firm had revenue of $282.40 million for the quarter, compared to the consensus estimate of $277.23 million. During the same period in the prior year, the business posted $0.39 earnings per share. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. Research analysts expect that Cognex will post 1.52 EPS for the current year.

In other news, Director Dianne M. Parrotte acquired 3,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average cost of $46.00 per share, for a total transaction of $138,000.00. Following the acquisition, the director now owns 3,608 shares in the company, valued at approximately $165,968. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Spire Wealth Management increased its position in shares of Cognex by 81.0% during the fourth quarter. Spire Wealth Management now owns 333 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 149 shares during the period. HighTower Advisors LLC increased its position in shares of Cognex by 0.7% during the third quarter. HighTower Advisors LLC now owns 23,049 shares of the scientific and technical instruments company’s stock worth $1,850,000 after acquiring an additional 154 shares during the period. Beese Fulmer Investment Management Inc. increased its position in shares of Cognex by 6.2% during the first quarter. Beese Fulmer Investment Management Inc. now owns 2,760 shares of the scientific and technical instruments company’s stock worth $213,000 after acquiring an additional 160 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Cognex by 1.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,514 shares of the scientific and technical instruments company’s stock worth $662,000 after acquiring an additional 162 shares during the period. Finally, Raymond James Trust N.A. increased its position in shares of Cognex by 4.3% during the fourth quarter. Raymond James Trust N.A. now owns 4,342 shares of the scientific and technical instruments company’s stock worth $338,000 after acquiring an additional 178 shares during the period. Institutional investors own 88.85% of the company’s stock.

Cognex Company Profile (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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