Cognex (NASDAQ:CGNX) Hits New 52-Week High at $57.56

Cognex Co. (NASDAQ:CGNX)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $57.56 and last traded at $57.52, with a volume of 96173 shares. The stock had previously closed at $56.19.

Several research firms have issued reports on CGNX. Robert W. Baird increased their price objective on Cognex from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Zacks Investment Research lowered Cognex from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st. Morgan Stanley set a $47.00 price objective on Cognex and gave the stock a “hold” rating in a research note on Friday, November 1st. ValuEngine lowered Cognex from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognex in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $50.27.

The firm has a fifty day moving average price of $54.16 and a 200 day moving average price of $48.94. The company has a quick ratio of 6.90, a current ratio of 7.71 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.80 billion, a P/E ratio of 46.08 and a beta of 2.09.

Cognex (NASDAQ:CGNX) last announced its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. The company had revenue of $183.33 million for the quarter, compared to analysts’ expectations of $177.78 million. Cognex had a return on equity of 14.21% and a net margin of 22.55%. The business’s revenue for the quarter was down 21.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, sell-side analysts anticipate that Cognex Co. will post 0.82 earnings per share for the current year.

In related news, insider Laura Ann Macdonald sold 24,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $51.35, for a total value of $1,232,400.00. Following the transaction, the insider now owns 24,000 shares in the company, valued at $1,232,400. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Theodor Krantz sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $51.87, for a total value of $1,556,100.00. Following the completion of the transaction, the director now owns 52,500 shares in the company, valued at approximately $2,723,175. The disclosure for this sale can be found here. Insiders have sold 466,202 shares of company stock worth $24,246,619 in the last 90 days. Company insiders own 5.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Cognex by 0.5% in the second quarter. Vanguard Group Inc. now owns 15,204,909 shares of the scientific and technical instruments company’s stock valued at $729,531,000 after acquiring an additional 78,354 shares during the last quarter. Invesco Ltd. boosted its holdings in Cognex by 59.9% in the second quarter. Invesco Ltd. now owns 2,143,034 shares of the scientific and technical instruments company’s stock valued at $102,823,000 after acquiring an additional 803,052 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Cognex by 337.3% in the second quarter. Mackenzie Financial Corp now owns 1,614,835 shares of the scientific and technical instruments company’s stock valued at $77,480,000 after acquiring an additional 1,245,600 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Cognex by 23.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,510,794 shares of the scientific and technical instruments company’s stock valued at $74,225,000 after acquiring an additional 283,241 shares during the last quarter. Finally, Manning & Napier Group LLC boosted its holdings in Cognex by 23.0% in the third quarter. Manning & Napier Group LLC now owns 998,490 shares of the scientific and technical instruments company’s stock valued at $49,053,000 after acquiring an additional 186,860 shares during the last quarter. Institutional investors and hedge funds own 91.38% of the company’s stock.

Cognex Company Profile (NASDAQ:CGNX)

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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