Cognex (NASDAQ:CGNX - Get Free Report) was downgraded by analysts at Truist Financial from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $43.00 price target on the scientific and technical instruments company's stock, down from their prior price target of $46.00. Truist Financial's price objective points to a potential upside of 5.26% from the company's previous close.
Several other research analysts also recently commented on CGNX. Vertical Research started coverage on Cognex in a report on Tuesday, July 23rd. They issued a "buy" rating and a $58.00 target price on the stock. DA Davidson decreased their target price on Cognex from $41.00 to $39.00 and set a "neutral" rating on the stock in a report on Monday, August 5th. The Goldman Sachs Group lowered their target price on Cognex from $45.00 to $39.00 and set a "sell" rating for the company in a research note on Friday, August 2nd. StockNews.com upgraded shares of Cognex from a "sell" rating to a "hold" rating in a research report on Friday, August 9th. Finally, Stephens upgraded shares of Cognex from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $45.00 to $55.00 in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Cognex has a consensus rating of "Moderate Buy" and an average target price of $48.92.
Get Our Latest Stock Analysis on Cognex
Shares of CGNX opened at $40.85 on Tuesday. Cognex has a 12 month low of $34.79 and a 12 month high of $53.13. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 78.56 and a beta of 1.40. The company has a 50-day moving average price of $39.42 and a two-hundred day moving average price of $42.98.
In other Cognex news, Director Dianne M. Parrotte bought 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $38.62 per share, with a total value of $77,240.00. Following the acquisition, the director now owns 11,340 shares of the company's stock, valued at $437,950.80. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cognex news, Director Dianne M. Parrotte bought 2,000 shares of the firm's stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $38.62 per share, for a total transaction of $77,240.00. Following the transaction, the director now directly owns 11,340 shares in the company, valued at approximately $437,950.80. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dennis Fehr purchased 6,570 shares of Cognex stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the transaction, the chief financial officer now directly owns 6,570 shares of the company's stock, valued at $249,922.80. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Cognex by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 17,522,549 shares of the scientific and technical instruments company's stock worth $743,307,000 after buying an additional 188,485 shares in the last quarter. Impax Asset Management Group plc boosted its position in Cognex by 2.6% in the third quarter. Impax Asset Management Group plc now owns 5,230,271 shares of the scientific and technical instruments company's stock valued at $211,303,000 after buying an additional 131,560 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Cognex by 8.1% during the second quarter. William Blair Investment Management LLC now owns 4,018,539 shares of the scientific and technical instruments company's stock worth $187,907,000 after buying an additional 301,916 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of Cognex by 1.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,445,894 shares of the scientific and technical instruments company's stock valued at $161,130,000 after acquiring an additional 49,026 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Cognex by 2.5% during the 1st quarter. Lazard Asset Management LLC now owns 2,154,625 shares of the scientific and technical instruments company's stock valued at $91,399,000 after acquiring an additional 53,267 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.
Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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