According to Zacks, “Cognex Corporation designs, develops, manufactures, and markets machine vision systems, or computers that can see. Cognex is the world’s leader in the machine vision industry, having shipped more than 200,000 vision systems, representing nearly $1.5 billion in cumulative revenue, since the company’s founding time. Cognex’s Modular Vision Systems Division, headquartered in Natick, Massachusetts, specializes in machine vision systems that are used for automating the manufacture of a wide range of discrete items and for assuring their quality. Cognex’s Surface Inspection Systems Division, headquartered in Alameda, California, specializes in machine vision systems that are used for inspecting the surfaces of products manufactured in a continuous fashion, such as metals, papers and plastics. “
Several other equities research analysts have also recently issued reports on CGNX. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Gordon Haskett started coverage on shares of Cognex in a research note on Wednesday, April 17th. They set a hold rating and a $54.00 target price on the stock. Morgan Stanley set a $226.00 target price on shares of S&P Global and gave the stock a hold rating in a research note on Friday, May 3rd. BidaskClub cut shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, July 9th. Finally, Needham & Company LLC lifted their target price on shares of Ceridian HCM to $60.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Cognex presently has an average rating of Hold and an average target price of $51.80.
Cognex (NASDAQ:CGNX) last announced its earnings results on Monday, April 29th. The scientific and technical instruments company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Cognex had a net margin of 26.55% and a return on equity of 18.90%. The company had revenue of $173.50 million for the quarter, compared to analysts’ expectations of $172.16 million. During the same quarter in the previous year, the company posted $0.21 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Cognex will post 1 EPS for the current fiscal year.
In other news, insider John J. Curran sold 50,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $49.01, for a total transaction of $2,450,500.00. Following the transaction, the insider now owns 12,500 shares of the company’s stock, valued at approximately $612,625. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in CGNX. Liberty Wealth Management LLC acquired a new position in shares of Cognex during the 4th quarter valued at about $25,000. Executive Wealth Management LLC acquired a new position in shares of Cognex during the 4th quarter valued at about $27,000. Bremer Bank National Association acquired a new position in shares of Cognex during the 1st quarter valued at about $27,000. Berman Capital Advisors LLC acquired a new position in shares of Cognex during the 4th quarter valued at about $29,000. Finally, Advisory Services Network LLC boosted its position in shares of Cognex by 223.0% during the 4th quarter. Advisory Services Network LLC now owns 772 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 533 shares during the last quarter. 94.49% of the stock is currently owned by hedge funds and other institutional investors.
Cognex Company Profile
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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