Investment analysts at Gordon Haskett started coverage on shares of Cognex (NASDAQ:CGNX) in a research report issued on Wednesday, The Fly reports. The firm set a “hold” rating on the scientific and technical instruments company’s stock.
Other equities analysts have also recently issued research reports about the company. BidaskClub cut Cognex from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Zacks Investment Research upgraded Cognex from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, January 3rd. Needham & Company LLC restated a “buy” rating and set a $50.00 price target (up previously from $47.00) on shares of Cognex in a report on Tuesday, February 12th. Finally, ValuEngine upgraded Cognex from a “sell” rating to a “hold” rating in a report on Monday, February 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Cognex currently has an average rating of “Hold” and an average price target of $48.71.
NASDAQ CGNX opened at $55.98 on Wednesday. The company has a market cap of $9.35 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 2.89 and a beta of 1.99. Cognex has a 1-year low of $34.88 and a 1-year high of $59.18.
In other news, Director Theodor Krantz sold 30,000 shares of Cognex stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total value 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 document filed with the SEC, which is available through the SEC website. 5.60% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Liberty Wealth Management LLC purchased a new position in shares of Cognex in the 4th quarter worth approximately $25,000. Ruggie Capital Group purchased a new position in shares of Cognex in the 4th quarter worth approximately $27,000. Executive Wealth Management LLC purchased a new position in shares of Cognex in the 4th quarter worth approximately $27,000. Berman Capital Advisors LLC purchased a new position in shares of Cognex in the 4th quarter worth approximately $29,000. Finally, CWM LLC boosted its holdings in shares of Cognex by 1,952.6% in the 4th quarter. CWM LLC now owns 780 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 742 shares during the period. Hedge funds and other institutional investors own 95.50% of the company’s stock.
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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