Cognex (NASDAQ:CGNX) Price Target Raised to $57.00 at Morgan Stanley

Cognex (NASDAQ:CGNX) had its price objective increased by Morgan Stanley from $55.00 to $57.00 in a report issued on Thursday morning, Anlyst Ratings reports. They currently have an underweight rating on the scientific and technical instruments company’s stock.

CGNX has been the topic of a number of other research reports. Wolfe Research assumed coverage on Cognex in a research report on Tuesday, August 25th. They issued an underperform rating and a $47.00 target price on the stock. Stephens assumed coverage on Cognex in a research report on Friday, October 16th. They issued an overweight rating and a $85.00 target price on the stock. Zacks Investment Research lowered Cognex from a hold rating to a sell rating in a research report on Wednesday, July 1st. Robert W. Baird upgraded Cognex from an underperform rating to a neutral rating and set a $63.00 price objective on the stock in a research report on Thursday. Finally, Daiwa Capital Markets lowered Cognex from an outperform rating to a neutral rating in a research report on Friday, September 4th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $59.56.

Shares of CGNX stock traded down $1.72 during trading hours on Thursday, reaching $65.94. 16,371 shares of the company’s stock were exchanged, compared to its average volume of 1,030,630. Cognex has a 1 year low of $35.20 and a 1 year high of $71.76. The stock has a market cap of $11.71 billion, a PE ratio of 83.53 and a beta of 1.68. The stock’s fifty day moving average price is $65.51 and its two-hundred day moving average price is $61.34.

Cognex (NASDAQ:CGNX) last issued its earnings results on Wednesday, October 28th. The scientific and technical instruments company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.16. Cognex had a return on equity of 10.67% and a net margin of 20.50%. On average, equities analysts expect that Cognex will post 0.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. This is an increase from Cognex’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, November 12th. Cognex’s dividend payout ratio is presently 18.97%.

In other news, Director Dianne M. Parrotte sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $66.49, for a total transaction of $498,675.00. Following the completion of the transaction, the director now directly owns 20,200 shares of the company’s stock, valued at approximately $1,343,098. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jerry A. Schneider sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $66.73, for a total value of $333,650.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $333,650. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 379,522 shares of company stock valued at $25,853,379. Corporate insiders own 5.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Beese Fulmer Investment Management Inc. acquired a new position in Cognex in the 2nd quarter valued at $72,000. Strs Ohio raised its stake in Cognex by 1,075.1% in the 2nd quarter. Strs Ohio now owns 24,877 shares of the scientific and technical instruments company’s stock valued at $1,485,000 after purchasing an additional 22,760 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Cognex in the 2nd quarter valued at $1,696,000. Nissay Asset Management Corp Japan ADV raised its stake in Cognex by 10.1% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 16,747 shares of the scientific and technical instruments company’s stock valued at $1,000,000 after purchasing an additional 1,543 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Cognex by 61.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 45,858 shares of the scientific and technical instruments company’s stock valued at $2,641,000 after purchasing an additional 17,459 shares during the last quarter. 93.62% of the stock is owned by hedge funds and other institutional investors.

Cognex Company Profile

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.

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Analyst Recommendations for Cognex (NASDAQ:CGNX)

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