Cognex (NASDAQ:CGNX) Stock Rating Lowered by Truist Financial

Cognex (NASDAQ:CGNX - Get Free Report) was downgraded by analysts at Truist Financial from a "buy" rating to a "hold" rating in a research report issued on Tuesday, Marketbeat Ratings reports. They currently have a $43.00 target price on the scientific and technical instruments company's stock, down from their prior target price of $46.00. Truist Financial's price objective would indicate a potential upside of 7.63% from the company's previous close.

A number of other brokerages also recently weighed in on CGNX. Robert W. Baird cut their target price on Cognex from $46.00 to $42.00 and set a "neutral" rating on the stock in a research note on Monday, August 5th. Needham & Company LLC lowered their target price on Cognex from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Friday. Stephens upgraded Cognex from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $45.00 to $55.00 in a research report on Wednesday, October 16th. The Goldman Sachs Group dropped their price objective on Cognex from $45.00 to $39.00 and set a "sell" rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com raised Cognex from a "sell" rating to a "hold" rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cognex has an average rating of "Moderate Buy" and a consensus target price of $48.92.

Cognex Stock Performance

Shares of NASDAQ CGNX traded down $0.90 during trading on Tuesday, hitting $39.95. 706,164 shares of the company traded hands, compared to its average volume of 1,280,354. Cognex has a fifty-two week low of $34.79 and a fifty-two week high of $53.13. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 77.79 and a beta of 1.40. The business's fifty day moving average is $39.42 and its 200 day moving average is $42.98.

Insider Buying and Selling at Cognex

In other Cognex news, Director Dianne M. Parrotte acquired 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $38.62 per share, with a total value of $77,240.00. Following the transaction, the director now owns 11,340 shares of the company's stock, valued at $437,950.80. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Dianne M. Parrotte bought 2,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $38.62 per share, with a total value of $77,240.00. Following the purchase, the director now directly owns 11,340 shares of the company's stock, valued at $437,950.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Dennis Fehr bought 6,570 shares of the stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $38.04 per share, with a total value of $249,922.80. Following the acquisition, the chief financial officer now owns 6,570 shares in the company, valued at approximately $249,922.80. The disclosure for this purchase can be found here. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cognex

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Cognex by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 17,522,549 shares of the scientific and technical instruments company's stock worth $743,307,000 after acquiring an additional 188,485 shares during the period. Impax Asset Management Group plc boosted its holdings in Cognex by 2.6% in the third quarter. Impax Asset Management Group plc now owns 5,230,271 shares of the scientific and technical instruments company's stock valued at $211,303,000 after purchasing an additional 131,560 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Cognex by 8.1% during the 2nd quarter. William Blair Investment Management LLC now owns 4,018,539 shares of the scientific and technical instruments company's stock valued at $187,907,000 after acquiring an additional 301,916 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Cognex by 1.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,445,894 shares of the scientific and technical instruments company's stock worth $161,130,000 after purchasing an additional 49,026 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Cognex by 2.5% in the 1st quarter. Lazard Asset Management LLC now owns 2,154,625 shares of the scientific and technical instruments company's stock valued at $91,399,000 after purchasing an additional 53,267 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

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.