Cognex (NASDAQ:CGNX) Receives Hold Rating from Truist Financial

Cognex (NASDAQ:CGNX - Get Free Report)'s stock had its "hold" rating reaffirmed by research analysts at Truist Financial in a note issued to investors on Friday,Benzinga reports. They presently have a $37.00 target price on the scientific and technical instruments company's stock, down from their prior target price of $43.00. Truist Financial's price objective suggests a potential upside of 11.99% from the company's current price.

Several other research analysts also recently commented on the company. Citigroup lowered their target price on Cognex from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. Stephens reiterated an "overweight" rating and set a $55.00 price objective on shares of Cognex in a research report on Thursday, January 2nd. Needham & Company LLC decreased their target price on shares of Cognex from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald upgraded Cognex to a "strong-buy" rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.42.

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Cognex Trading Down 0.5 %

Cognex stock traded down $0.16 during trading hours on Friday, reaching $33.04. 1,846,469 shares of the stock were exchanged, compared to its average volume of 1,378,457. Cognex has a twelve month low of $32.41 and a twelve month high of $53.13. The company has a market cap of $5.67 billion, a P/E ratio of 63.54 and a beta of 1.40. The stock has a 50 day moving average of $37.69 and a two-hundred day moving average of $38.88.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Cognex had a net margin of 10.10% and a return on equity of 5.28%. On average, analysts expect that Cognex will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Anthony Sun sold 26,000 shares of Cognex stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the completion of the transaction, the director now owns 26,608 shares of the company's stock, valued at $1,065,118.24. This trade represents a 49.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Joerg Kuechen sold 2,934 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Cognex

A number of hedge funds have recently added to or reduced their stakes in CGNX. Creative Planning grew its position in shares of Cognex by 2.4% during the 3rd quarter. Creative Planning now owns 21,919 shares of the scientific and technical instruments company's stock worth $888,000 after buying an additional 512 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Cognex by 5.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,929 shares of the scientific and technical instruments company's stock worth $807,000 after purchasing an additional 1,110 shares during the period. Riverview Trust Co bought a new stake in Cognex in the third quarter valued at $25,000. Blue Trust Inc. raised its holdings in shares of Cognex by 719.2% during the third quarter. Blue Trust Inc. now owns 2,171 shares of the scientific and technical instruments company's stock valued at $88,000 after purchasing an additional 1,906 shares during the period. Finally, Slow Capital Inc. boosted its position in shares of Cognex by 13.2% during the 3rd quarter. Slow Capital Inc. now owns 80,593 shares of the scientific and technical instruments company's stock worth $3,264,000 after purchasing an additional 9,415 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

Cognex Company Profile

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.