Cognex Corporation (CGNX) Sets New 52-Week High at $122.69
Cognex Corporation (NASDAQ:CGNX) reached a new 52-week high during trading on Monday . The stock traded as high as $122.69 and last traded at $122.73, with a volume of 272,360 shares trading hands. The stock had previously closed at $122.44.
Several equities research analysts have commented on CGNX shares. BidaskClub lowered shares of Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research upgraded shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Tuesday, July 4th. Cowen and Company reiterated a “buy” rating and issued a $100.00 price objective on shares of Cognex Corporation in a research note on Tuesday, July 11th. Finally, Wolfe Research started coverage on shares of Cognex Corporation in a research note on Tuesday, July 11th. They issued a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $82.75.
The company has a market capitalization of $10.62 billion, a P/E ratio of 56.0511 and a beta of 1.42. The stock has a 50 day moving average of $113.75 and a 200 day moving average of $97.71.
Cognex Corporation (NASDAQ:CGNX) last released its quarterly earnings data on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.08. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The firm had revenue of $172.90 million during the quarter, compared to analysts’ expectations of $169.79 million. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts expect that Cognex Corporation will post $2.56 earnings per share for the current year.
In other news, Director Bruce Robinson J sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total transaction of $745,500.00. Following the completion of the transaction, the director now directly owns 5,625 shares of the company’s stock, valued at $599,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $102.67, for a total transaction of $513,350.00. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $616,020. The disclosure for this sale can be found here. Insiders have sold 126,750 shares of company stock valued at $13,242,726 over the last three months. 5.60% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CGNX. Daiwa Securities Group Inc. purchased a new position in shares of Cognex Corporation during the second quarter valued at approximately $102,000. Fifth Third Bancorp raised its holdings in shares of Cognex Corporation by 69.9% during the first quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock valued at $133,000 after purchasing an additional 650 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cognex Corporation during the second quarter valued at approximately $135,000. IFP Advisors Inc raised its holdings in shares of Cognex Corporation by 46.8% during the second quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock valued at $163,000 after purchasing an additional 612 shares during the last quarter. Finally, FNY Partners Fund LP purchased a new position in shares of Cognex Corporation during the first quarter valued at approximately $167,000. 87.24% of the stock is owned by hedge funds and other institutional investors.
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Cognex Corporation Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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