Cognex (CGNX) Stock Rating Lowered by BidaskClub

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

Several other brokerages have also issued reports on CGNX. ValuEngine lowered shares of Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Canaccord Genuity increased their price target on shares of Cognex from $47.50 to $60.00 and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Zacks Investment Research upgraded shares of Cognex from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Wednesday, November 1st. Robert W. Baird increased their price target on shares of Cognex from $50.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Finally, Deutsche Bank set a $80.00 price target on shares of Cognex and gave the stock a “buy” rating in a research note on Friday, January 19th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Cognex presently has an average rating of “Hold” and a consensus target price of $63.00.

Shares of Cognex (NASDAQ CGNX) traded up $1.37 during trading on Thursday, hitting $55.02. 2,365,076 shares of the company traded hands, compared to its average volume of 1,600,000. The company has a market cap of $9,530.00, a price-to-earnings ratio of 40.46 and a beta of 1.44. Cognex has a 52 week low of $34.33 and a 52 week high of $72.99.

In related news, Director Patrick Alias sold 5,000 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $143.54, for a total transaction of $717,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CGNX. FMR LLC grew its position in Cognex by 1.9% during the 2nd quarter. FMR LLC now owns 902,500 shares of the scientific and technical instruments company’s stock valued at $76,623,000 after purchasing an additional 16,551 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in Cognex by 28.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 104,790 shares of the scientific and technical instruments company’s stock valued at $8,897,000 after purchasing an additional 23,004 shares during the last quarter. Stifel Financial Corp grew its position in Cognex by 2.4% during the 2nd quarter. Stifel Financial Corp now owns 15,563 shares of the scientific and technical instruments company’s stock valued at $1,316,000 after purchasing an additional 364 shares during the last quarter. AHL Partners LLP grew its position in Cognex by 0.8% during the 2nd quarter. AHL Partners LLP now owns 2,842 shares of the scientific and technical instruments company’s stock valued at $241,000 after purchasing an additional 23 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Cognex by 34.6% during the 2nd quarter. Royal Bank of Canada now owns 40,829 shares of the scientific and technical instruments company’s stock valued at $3,466,000 after purchasing an additional 10,496 shares during the last quarter. 44.37% of the stock is currently owned by institutional investors.

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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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