Cognex (NASDAQ:CGNX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other research firms have also commented on CGNX. Zacks Investment Research lowered shares of Cognex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Wolfe Research raised shares of Cognex from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. J P Morgan Chase & Co lowered shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price objective on the stock. in a research note on Wednesday, November 8th. Canaccord Genuity upped their price objective on shares of Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a research note on Tuesday, October 31st. Finally, Robert W. Baird upped their price objective on shares of Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $60.17.

Cognex (NASDAQ:CGNX) traded up $1.19 during trading hours on Thursday, hitting $64.38. 2,095,491 shares of the stock were exchanged, compared to its average volume of 2,578,916. Cognex has a 12 month low of $31.18 and a 12 month high of $72.99. The company has a market cap of $10,942.81, a price-to-earnings ratio of 46.63 and a beta of 1.50.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The company had revenue of $259.74 million for the quarter, compared to analyst estimates of $255.95 million. During the same period in the prior year, the firm posted $0.31 EPS. The company’s quarterly revenue was up 75.6% on a year-over-year basis. analysts expect that Cognex will post 1.39 earnings per share for the current fiscal year.

In related news, Director Patrick Alias sold 5,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $143.54, for a total transaction of $717,700.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Theodor Krantz sold 15,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $134.05, for a total transaction of $2,010,750.00. Following the transaction, the director now owns 26,250 shares in the company, valued at approximately $3,518,812.50. The disclosure for this sale can be found here. Insiders have sold a total of 148,750 shares of company stock worth $19,097,525 in the last quarter. 5.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AXA raised its holdings in Cognex by 10.3% during the third quarter. AXA now owns 640,617 shares of the scientific and technical instruments company’s stock worth $70,648,000 after buying an additional 60,015 shares during the last quarter. Wealthsource Partners LLC acquired a new position in Cognex during the third quarter worth $212,000. Belpointe Asset Management LLC acquired a new position in Cognex during the third quarter worth $255,000. Cetera Advisors LLC acquired a new position in Cognex during the third quarter worth $276,000. Finally, Coldstream Capital Management Inc. acquired a new position in Cognex during the third quarter worth $203,000. Hedge funds and other institutional investors own 84.25% of the company’s stock.

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About Cognex

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 (NASDAQ:CGNX)

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