Several other brokerages have also commented on CGNX. ValuEngine lowered Cognex from a hold rating to a sell rating in a report on Tuesday, July 2nd. Zacks Investment Research raised Cognex from a sell rating to a hold rating in a report on Tuesday, July 23rd. Morgan Stanley cut their price objective on Cognex from $47.00 to $43.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Finally, Goldman Sachs Group lowered Cognex from a neutral rating to a sell rating and cut their price objective for the stock from $45.00 to $36.00 in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $50.22.
Shares of CGNX opened at $49.79 on Friday. The business’s 50-day moving average price is $44.98 and its 200-day moving average price is $47.34. Cognex has a twelve month low of $34.88 and a twelve month high of $59.18. The stock has a market cap of $8.43 billion, a PE ratio of 40.15, a P/E/G ratio of 3.90 and a beta of 2.08. 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 (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. Cognex had a return on equity of 17.81% and a net margin of 26.03%. The company had revenue of $199.00 million during the quarter, compared to analyst estimates of $194.65 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Cognex’s revenue was down 5.8% on a year-over-year basis. Analysts expect that Cognex will post 0.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Thursday, August 15th. Cognex’s payout ratio is 16.13%.
In other Cognex news, Director Dianne M. Parrotte sold 900 shares of the company’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 value of $40,500.00. Following the completion of the sale, the director now owns 19,700 shares of the company’s stock, valued at $886,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. boosted its stake in Cognex by 0.9% in the second quarter. Pinebridge Investments L.P. now owns 26,388 shares of the scientific and technical instruments company’s stock worth $1,266,000 after buying an additional 232 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Cognex by 0.8% in the second quarter. Nisa Investment Advisors LLC now owns 33,270 shares of the scientific and technical instruments company’s stock worth $1,596,000 after buying an additional 270 shares in the last quarter. Circle Wealth Management LLC boosted its stake in Cognex by 4.6% in the second quarter. Circle Wealth Management LLC now owns 7,686 shares of the scientific and technical instruments company’s stock worth $369,000 after buying an additional 336 shares in the last quarter. Bellecapital International Ltd. boosted its stake in Cognex by 0.6% in the second quarter. Bellecapital International Ltd. now owns 57,550 shares of the scientific and technical instruments company’s stock worth $2,761,000 after buying an additional 350 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Cognex by 173.6% in the second quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 401 shares in the last quarter. 91.52% of the stock is owned by institutional investors and hedge funds.
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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