Other equities research analysts have also recently issued reports about the company. Goldman Sachs Group cut Cognex from a neutral rating to a sell rating and cut their target price for the stock from $45.00 to $36.00 in a research note on Tuesday, July 16th. Zacks Investment Research raised Cognex from a sell rating to a hold rating in a research note on Tuesday, July 23rd. Morgan Stanley cut their target price on Cognex from $47.00 to $43.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. Finally, ValuEngine cut Cognex from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $50.22.
CGNX opened at $49.79 on Friday. The stock has a fifty day simple moving average of $44.98 and a two-hundred day simple moving average of $47.34. The company has a current ratio of 7.92, a quick ratio of 7.07 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 40.15, a price-to-earnings-growth ratio of 3.90 and a beta of 2.08. Cognex has a 12-month low of $34.88 and a 12-month high of $59.18.
The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.05 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.40%. Cognex’s dividend payout ratio is currently 16.13%.
In other news, Director Dianne M. Parrotte sold 900 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total value of $40,500.00. Following the sale, the director now directly owns 19,700 shares of the company’s stock, valued at $886,500. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc boosted its position in shares of Cognex by 1,081.8% during the second quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 476 shares during the last quarter. Bremer Bank National Association purchased a new stake in shares of Cognex during the first quarter valued at $27,000. Huntington National Bank boosted its position in shares of Cognex by 173.6% during the second quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 401 shares during the last quarter. Coastal Capital Group Inc. purchased a new stake in shares of Cognex during the second quarter valued at $38,000. Finally, Cornerstone Advisors Inc. boosted its position in shares of Cognex by 123.9% during the first quarter. Cornerstone Advisors Inc. now owns 1,001 shares of the scientific and technical instruments company’s stock valued at $51,000 after buying an additional 554 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
Featured Article: How to invest in a bear market
Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.