Cognex (NASDAQ:CGNX) Price Target Lowered to $38.00 at Robert W. Baird

Cognex (NASDAQ:CGNX - Get Free Report) had its target price reduced by equities research analysts at Robert W. Baird from $42.00 to $38.00 in a report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a "neutral" rating on the scientific and technical instruments company's stock. Robert W. Baird's price target points to a potential upside of 15.86% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC decreased their price target on shares of Cognex from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Stephens reissued an "overweight" rating and issued a $55.00 target price on shares of Cognex in a research note on Thursday, January 2nd. Citigroup reduced their target price on Cognex from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Monday, January 13th. Cantor Fitzgerald raised Cognex to a "strong-buy" rating in a research note on Friday, December 20th. Finally, Truist Financial reissued a "hold" rating and issued a $37.00 target price (down previously from $43.00) on shares of Cognex in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $44.83.

Remove Ads

Cognex Trading Down 1.8 %

Shares of Cognex stock traded down $0.60 during trading on Tuesday, hitting $32.80. The stock had a trading volume of 1,669,656 shares, compared to its average volume of 1,517,452. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 53.77 and a beta of 1.40. Cognex has a 12 month low of $32.35 and a 12 month high of $53.13. The business's 50-day moving average is $37.35 and its 200 day moving average is $38.74.

Cognex (NASDAQ:CGNX - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Cognex had a return on equity of 5.65% and a net margin of 11.61%. As a group, equities analysts expect that Cognex will post 0.61 EPS for the current year.

Insider Buying and Selling at Cognex

In other Cognex news, CTO Joerg Kuechen sold 2,934 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company's stock.

Institutional Trading of Cognex

A number of institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp boosted its holdings in shares of Cognex by 9.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,038,345 shares of the scientific and technical instruments company's stock worth $73,095,000 after purchasing an additional 177,324 shares during the period. Forum Financial Management LP purchased a new stake in shares of Cognex during the fourth quarter worth about $210,000. Pinney & Scofield Inc. purchased a new stake in shares of Cognex during the fourth quarter worth about $124,000. Neo Ivy Capital Management purchased a new stake in shares of Cognex during the fourth quarter worth about $1,914,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cognex by 24.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 466,889 shares of the scientific and technical instruments company's stock worth $16,743,000 after purchasing an additional 90,640 shares during the period. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information 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, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.