Gordon Haskett began coverage on shares of Cognex (NASDAQ:CGNX) in a research note published on Wednesday morning, BenzingaRatingsTable reports. The firm issued a hold rating and a $54.00 price objective on the scientific and technical instruments company’s stock.

CGNX has been the subject of a number of other research reports. Zacks Investment Research lowered Cognex from a buy rating to a hold rating in a research report on Friday, January 25th. BidaskClub lowered Cognex from a strong-buy rating to a buy rating in a research report on Thursday, March 7th. Finally, Needham & Company LLC reiterated a buy rating and set a $50.00 price target (up previously from $47.00) on shares of Cognex in a research report on Tuesday, February 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $50.10.

NASDAQ:CGNX traded up $0.02 during midday trading on Wednesday, reaching $56.04. 179,377 shares of the company traded hands, compared to its average volume of 1,217,896. Cognex has a twelve month low of $34.88 and a twelve month high of $59.18. The firm has a market capitalization of $9.60 billion, a P/E ratio of 45.19, a P/E/G ratio of 2.89 and a beta of 1.99.

Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Thursday, February 14th. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.04. Cognex had a return on equity of 19.75% and a net margin of 27.19%. The business had revenue of $193.29 million during the quarter, compared to analyst estimates of $184.82 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Cognex will post 1.26 EPS for the current fiscal year.

In other Cognex news, Director Theodor Krantz sold 30,000 shares of the business’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total transaction of $1,595,400.00. Following the completion of the transaction, the director now owns 52,500 shares in the company, valued at approximately $2,791,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Liberty Wealth Management LLC bought a new stake in shares of Cognex in the 4th quarter worth $25,000. Ruggie Capital Group acquired a new stake in shares of Cognex during the fourth quarter worth $27,000. Executive Wealth Management LLC acquired a new stake in shares of Cognex during the fourth quarter worth $27,000. Advisory Services Network LLC raised its position in shares of Cognex by 223.0% during the fourth quarter. Advisory Services Network LLC now owns 772 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 533 shares during the period. Finally, Berman Capital Advisors LLC acquired a new stake in shares of Cognex during the fourth quarter worth $29,000. 95.50% of the stock is currently owned by 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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Analyst Recommendations for Cognex (NASDAQ:CGNX)

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