Wolfe Research began coverage on shares of Cognex Corporation (NASDAQ:CGNX) in a report published on Tuesday morning. The brokerage issued a peer perform rating on the scientific and technical instruments company’s stock.
CGNX has been the topic of several other research reports. Cowen and Company cut their price objective on Cognex Corporation from $100.00 to $90.00 and set an outperform rating on the stock in a research report on Tuesday, May 2nd. Zacks Investment Research raised Cognex Corporation from a hold rating to a buy rating and set a $95.00 price objective on the stock in a research report on Tuesday, July 4th. BidaskClub cut Cognex Corporation from a strong-buy rating to a buy rating in a research report on Friday, June 30th. Goldman Sachs Group, Inc. (The) assumed coverage on Cognex Corporation in a research report on Monday, April 3rd. They issued a buy rating on the stock. Finally, Needham & Company LLC cut Cognex Corporation from a buy rating to a hold rating in a research report on Wednesday, March 15th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Cognex Corporation currently has a consensus rating of Buy and a consensus target price of $73.22.
Shares of Cognex Corporation (CGNX) opened at 89.47 on Tuesday. The firm’s 50-day moving average price is $91.91 and its 200 day moving average price is $79.32. The firm has a market cap of $7.75 billion, a P/E ratio of 43.54 and a beta of 1.42. Cognex Corporation has a one year low of $43.07 and a one year high of $97.99.
In other news, CEO Robert Willett sold 43,981 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $89.79, for a total transaction of $3,949,053.99. Following the transaction, the chief executive officer now owns 20,020 shares of the company’s stock, valued at approximately $1,797,595.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodor Krantz sold 7,500 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $96.09, for a total value of $720,675.00. Following the transaction, the director now directly owns 26,250 shares in the company, valued at approximately $2,522,362.50. The disclosure for this sale can be found here. Insiders have sold a total of 107,500 shares of company stock worth $9,808,143 in the last ninety days. Insiders own 5.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Segantii Capital Management Ltd purchased a new position in shares of Cognex Corporation during the first quarter worth approximately $101,000. IFP Advisors Inc boosted its position in shares of Cognex Corporation by 172.3% in the first quarter. IFP Advisors Inc now owns 1,307 shares of the scientific and technical instruments company’s stock worth $110,000 after buying an additional 827 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Cognex Corporation by 69.9% in the first quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock worth $133,000 after buying an additional 650 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cognex Corporation during the second quarter worth approximately $135,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of Cognex Corporation by 737.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,952 shares of the scientific and technical instruments company’s stock worth $164,000 after buying an additional 1,719 shares in the last quarter. 88.24% of the stock is currently owned by hedge funds and other institutional investors.
About Cognex Corporation
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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