Shares of Cognex Corporation (NASDAQ:CGNX) have been assigned a consensus recommendation of “Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $77.33.

A number of research firms have weighed in on CGNX. Cowen and Company reissued an “outperform” rating and issued a $135.00 target price (up previously from $100.00) on shares of Cognex Corporation in a report on Tuesday, August 8th. BidaskClub raised Cognex Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Wolfe Research started coverage on Cognex Corporation in a research note on Tuesday, July 11th. They issued a “peer perform” rating on the stock. Finally, Zacks Investment Research raised Cognex Corporation from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Wednesday, August 2nd.

In related news, CEO Robert Willett sold 25,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $103.37, for a total transaction of $2,584,250.00. Following the completion of the sale, the chief executive officer now owns 25,000 shares in the company, valued at $2,584,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry A. Schneider sold 5,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $102.67, for a total value of $513,350.00. Following the sale, the director now owns 6,000 shares of the company’s stock, valued at approximately $616,020. The disclosure for this sale can be found here. Insiders sold 126,750 shares of company stock worth $13,242,726 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of Cognex Corporation by 3.5% during the second quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock worth $584,711,000 after purchasing an additional 231,014 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Cognex Corporation by 2.4% during the second quarter. Vanguard Group Inc. now owns 6,734,216 shares of the scientific and technical instruments company’s stock worth $571,735,000 after purchasing an additional 159,355 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Cognex Corporation by 126.7% during the second quarter. Ameriprise Financial Inc. now owns 2,342,312 shares of the scientific and technical instruments company’s stock worth $198,864,000 after purchasing an additional 1,309,047 shares in the last quarter. State Street Corp grew its position in shares of Cognex Corporation by 2.2% during the second quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock worth $184,153,000 after purchasing an additional 45,840 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Cognex Corporation by 21.3% during the second quarter. Bank of New York Mellon Corp now owns 1,261,312 shares of the scientific and technical instruments company’s stock worth $107,085,000 after purchasing an additional 221,545 shares in the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.

Shares of Cognex Corporation (NASDAQ CGNX) opened at 122.78 on Wednesday. Cognex Corporation has a one year low of $49.68 and a one year high of $123.57. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 56.09 and a beta of 1.42. The company has a 50-day moving average price of $114.40 and a 200 day moving average price of $98.46.

Cognex Corporation (NASDAQ:CGNX) last posted its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Cognex Corporation had a return on equity of 19.51% and a net margin of 33.10%. The company had revenue of $172.90 million for the quarter, compared to the consensus estimate of $169.79 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. Cognex Corporation’s revenue was up 17.4% on a year-over-year basis. Equities research analysts expect that Cognex Corporation will post $2.56 earnings per share for the current year.

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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.

Analyst Recommendations for Cognex Corporation (NASDAQ:CGNX)

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