Cognex Co. (NASDAQ:CGNX) – Investment analysts at Northcoast Research cut their FY2017 EPS estimates for Cognex in a report issued on Thursday. Northcoast Research analyst T. Hayes now anticipates that the scientific and technical instruments company will earn $1.38 per share for the year, down from their previous estimate of $1.39. Northcoast Research also issued estimates for Cognex’s Q4 2017 earnings at $0.24 EPS and Q2 2018 earnings at $0.36 EPS.
Several other equities research analysts have also recently issued reports on CGNX. Robert W. Baird boosted their price objective on shares of Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Canaccord Genuity boosted their price objective on shares of Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, October 31st. Zacks Investment Research raised shares of Cognex from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Wednesday, November 1st. JPMorgan Chase & Co. cut shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price objective for the company. in a research report on Wednesday, November 8th. Finally, BidaskClub cut shares of Cognex from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $63.00.
Institutional investors and hedge funds have recently made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in shares of Cognex in the 4th quarter worth approximately $126,000. Strs Ohio purchased a new stake in shares of Cognex in the 4th quarter worth approximately $133,000. Clear Perspective Advisors LLC lifted its position in shares of Cognex by 100.0% in the 4th quarter. Clear Perspective Advisors LLC now owns 2,200 shares of the scientific and technical instruments company’s stock worth $135,000 after purchasing an additional 1,100 shares during the period. Huntington National Bank lifted its position in shares of Cognex by 67.3% in the 3rd quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock worth $151,000 after purchasing an additional 550 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Cognex in the 4th quarter worth approximately $171,000. 43.23% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Patrick Alias sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $143.54, for a total value of $717,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodor Krantz sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $134.05, for a total transaction of $2,010,750.00. Following the completion of the sale, the director now directly owns 26,250 shares of the company’s stock, valued at approximately $3,518,812.50. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.
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.
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