Cognex (NASDAQ:CGNX - Free Report) had its price objective decreased by Truist Financial from $37.00 to $29.00 in a research note published on Tuesday,Benzinga reports. Truist Financial currently has a hold rating on the scientific and technical instruments company's stock.
CGNX has been the subject of a number of other research reports. HSBC downgraded shares of Cognex from a "buy" rating to a "hold" rating and set a $33.00 target price for the company. in a research report on Friday, February 21st. Hsbc Global Res downgraded shares of Cognex from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 21st. UBS Group dropped their target price on shares of Cognex from $58.00 to $56.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. Robert W. Baird decreased their price target on Cognex from $42.00 to $38.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Finally, Needham & Company LLC dropped their price objective on Cognex from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Cognex has an average rating of "Hold" and an average target price of $44.17.
Check Out Our Latest Analysis on CGNX
Cognex Stock Up 2.1 %
NASDAQ CGNX traded up $0.50 on Tuesday, hitting $23.95. The company's stock had a trading volume of 7,225,504 shares, compared to its average volume of 1,384,637. The company's 50-day moving average is $31.55 and its 200 day moving average is $36.43. The firm has a market cap of $4.06 billion, a PE ratio of 39.26 and a beta of 1.56. Cognex has a 1-year low of $22.67 and a 1-year high of $53.13.
Cognex (NASDAQ:CGNX - Get Free Report) last announced its earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 earnings per share (EPS) 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%. On average, equities analysts expect that Cognex will post 0.61 EPS for the current year.
Cognex Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.32 annualized dividend and a yield of 1.34%. Cognex's payout ratio is 52.46%.
Insider Activity
In related news, EVP Carl Gerst sold 6,803 shares of Cognex stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $32.73, for a total transaction of $222,662.19. Following the transaction, the executive vice president now owns 4,566 shares of the company's stock, valued at $149,445.18. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company's stock.
Hedge Funds Weigh In On Cognex
Large investors have recently bought and sold shares of the stock. NBC Securities Inc. bought a new position in shares of Cognex during the first quarter valued at about $54,000. Kopion Asset Management LLC lifted its position in shares of Cognex by 28.2% during the 1st quarter. Kopion Asset Management LLC now owns 244,302 shares of the scientific and technical instruments company's stock worth $7,288,000 after buying an additional 53,684 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Cognex by 7,515.1% in the 1st quarter. GAMMA Investing LLC now owns 31,679 shares of the scientific and technical instruments company's stock worth $945,000 after buying an additional 31,263 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Cognex by 56.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,844 shares of the scientific and technical instruments company's stock valued at $1,034,000 after acquiring an additional 10,458 shares in the last quarter. Finally, Centaurus Financial Inc. increased its position in shares of Cognex by 16.0% during the fourth quarter. Centaurus Financial Inc. now owns 3,267 shares of the scientific and technical instruments company's stock valued at $117,000 after acquiring an additional 450 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors.
Cognex Company Profile
(
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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.
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