CGNX has been the topic of several other research reports. Goldman Sachs Group downgraded Cognex from a neutral rating to a sell rating and decreased their target price for the company from $45.00 to $36.00 in a research note on Tuesday, July 16th. Sanford C. Bernstein downgraded Cognex from an outperform rating to a market perform rating and set a $46.00 target price on the stock. in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Zacks Investment Research raised Cognex from a sell rating to a hold rating in a research note on Tuesday, July 23rd. ValuEngine downgraded Cognex from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley decreased their target price on Cognex from $47.00 to $43.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $50.60.
NASDAQ CGNX opened at $44.19 on Friday. The stock’s 50-day moving average price is $43.66 and its 200-day moving average price is $47.85. The company has a quick ratio of 7.07, a current ratio of 7.92 and a debt-to-equity ratio of 0.01. Cognex has a 52 week low of $34.88 and a 52 week high of $59.18. The company has a market capitalization of $7.43 billion, a P/E ratio of 35.64, a price-to-earnings-growth ratio of 3.36 and a beta of 2.08.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.45%. The ex-dividend date is Thursday, August 15th. Cognex’s dividend payout ratio (DPR) is presently 16.13%.
In other Cognex news, Director Dianne M. Parrotte sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $40,500.00. Following the completion of the transaction, the director now owns 19,700 shares in the company, valued at approximately $886,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NEXT Financial Group Inc boosted its holdings in shares of Cognex by 1,081.8% in the 2nd quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 476 shares during the period. Bremer Bank National Association purchased a new position in shares of Cognex in the 1st quarter worth approximately $27,000. Osborn Williams & Donohoe LLC purchased a new position in shares of Cognex in the 1st quarter worth approximately $33,000. Huntington National Bank boosted its holdings in shares of Cognex by 173.6% in the 2nd quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 401 shares during the period. Finally, Coastal Capital Group Inc. purchased a new position in shares of Cognex in the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 94.02% of the company’s stock.
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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