Shares of Cognex Corporation (NASDAQ:CGNX) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $117.38 and last traded at $117.50, with a volume of 556,676 shares. The stock had previously closed at $116.39.
Several analysts recently issued reports on CGNX shares. Zacks Investment Research raised shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Wednesday, August 2nd. BidaskClub raised shares of Cognex Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Cowen and Company reaffirmed an “outperform” rating and set a $135.00 price objective (up from $100.00) on shares of Cognex Corporation in a report on Tuesday, August 8th. Finally, Wolfe Research raised shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Cognex Corporation currently has a consensus rating of “Buy” and a consensus price target of $82.75.
The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 53.67 and a beta of 1.42. The stock has a 50 day moving average of $110.71 and a 200-day moving average of $95.93.
Cognex Corporation (NASDAQ:CGNX) last released its quarterly earnings data on Monday, July 31st. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The firm had revenue of $172.90 million during the quarter, compared to analysts’ expectations of $169.79 million. During the same period in the previous year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, analysts anticipate that Cognex Corporation will post $2.55 earnings per share for the current year.
In other Cognex Corporation news, Director Bruce Robinson J sold 7,000 shares of Cognex Corporation stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total transaction of $745,500.00. Following the completion of the transaction, the director now directly owns 5,625 shares of the company’s stock, valued at $599,062.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jerry A. Schneider sold 5,000 shares of Cognex Corporation stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $102.67, for a total transaction of $513,350.00. Following the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $616,020. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 126,750 shares of company stock valued at $13,242,726. Company insiders own 5.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. USA Financial Portformulas Corp boosted its position in Cognex Corporation by 90.8% during the second quarter. USA Financial Portformulas Corp now owns 11,633 shares of the scientific and technical instruments company’s stock worth $988,000 after purchasing an additional 5,536 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Cognex Corporation during the second quarter worth $772,000. Public Employees Retirement System of Ohio boosted its position in Cognex Corporation by 5.4% during the second quarter. Public Employees Retirement System of Ohio now owns 131,001 shares of the scientific and technical instruments company’s stock worth $11,122,000 after purchasing an additional 6,685 shares during the period. Verition Fund Management LLC bought a new position in Cognex Corporation during the second quarter worth $1,181,000. Finally, National Asset Management Inc. boosted its position in Cognex Corporation by 21.7% during the second quarter. National Asset Management Inc. now owns 4,015 shares of the scientific and technical instruments company’s stock worth $341,000 after purchasing an additional 715 shares during the period. 87.25% of the stock is owned by hedge funds and other institutional investors.
Cognex Corporation Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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