BidaskClub upgraded shares of Cognex (NASDAQ:CGNX) from a hold rating to a buy rating in a report published on Wednesday morning.

Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Cognex from a strong-buy rating to a sell rating in a research report on Tuesday, January 2nd. ValuEngine cut shares of Cognex from a hold rating to a sell rating in a research report on Thursday, December 7th. JPMorgan Chase & Co. cut shares of Cognex from a neutral rating to an underweight rating and set a $62.50 price target on the stock. in a research report on Wednesday, November 8th. Canaccord Genuity increased their price target on shares of Cognex from $47.50 to $60.00 and gave the stock a hold rating in a research report on Tuesday, October 31st. Finally, Robert W. Baird increased their price target on shares of Cognex from $50.00 to $62.00 and gave the stock a neutral rating in a research report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $60.17.

Shares of Cognex (CGNX) traded up $0.87 during mid-day trading on Wednesday, hitting $67.91. 1,150,000 shares of the stock traded hands, compared to its average volume of 2,110,000. Cognex has a twelve month low of $32.05 and a twelve month high of $72.99. The company has a market capitalization of $11,760.00, a PE ratio of 49.93 and a beta of 1.50.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The business had revenue of $259.74 million for the quarter, compared to analysts’ expectations of $255.95 million. During the same quarter last year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 75.6% compared to the same quarter last year. analysts forecast that Cognex will post 1.39 earnings per share for the current year.

In related news, CEO Robert Willett sold 100,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $127.19, for a total transaction of $12,719,000.00. Following the sale, the chief executive officer now owns 100,000 shares in the company, valued at $12,719,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey Benjamin Miller sold 7,500 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $124.23, for a total transaction of $931,725.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,750 shares of company stock worth $18,540,975. 5.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Cognex by 3.5% during the second quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock worth $584,711,000 after acquiring an additional 231,014 shares during the period. Vanguard Group Inc. raised its stake in Cognex by 2.4% during the second quarter. Vanguard Group Inc. now owns 6,734,216 shares of the scientific and technical instruments company’s stock worth $571,735,000 after acquiring an additional 159,355 shares during the period. Harding Loevner LP raised its stake in Cognex by 50.1% during the third quarter. Harding Loevner LP now owns 2,835,891 shares of the scientific and technical instruments company’s stock worth $135,890,000 after acquiring an additional 947,119 shares during the period. Ameriprise Financial Inc. raised its stake in Cognex by 126.7% during the second quarter. Ameriprise Financial Inc. now owns 2,342,312 shares of the scientific and technical instruments company’s stock worth $198,864,000 after acquiring an additional 1,309,047 shares during the period. Finally, State Street Corp raised its stake in Cognex by 2.2% during the second quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock worth $184,153,000 after acquiring an additional 45,840 shares during the period. Hedge funds and other institutional investors own 42.10% of the company’s stock.

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Cognex 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.

Analyst Recommendations for Cognex (NASDAQ:CGNX)

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