Cognex Co. (NASDAQ:CGNX) Receives Average Recommendation of “Moderate Buy” from Analysts

Cognex Co. (NASDAQ:CGNX) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $47.92.

A number of research firms have recently issued reports on CGNX. Truist Financial upped their target price on shares of Cognex from $42.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Stephens reaffirmed an “overweight” rating and issued a $55.00 target price on shares of Cognex in a research report on Thursday, January 2nd. Needham & Company LLC reduced their price target on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald raised Cognex to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Citigroup decreased their target price on Cognex from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, January 13th.

Insider Buying and Selling at Cognex

In other Cognex news, Director Anthony Sun sold 26,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the completion of the sale, the director now owns 26,608 shares of the company’s stock, valued at approximately $1,065,118.24. The trade was a 49.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of Cognex

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC raised its position in shares of Cognex by 30.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,346 shares of the scientific and technical instruments company’s stock valued at $48,000 after acquiring an additional 317 shares in the last quarter. CIBC Asset Management Inc grew its position in Cognex by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,616 shares of the scientific and technical instruments company’s stock valued at $201,000 after buying an additional 270 shares in the last quarter. Principal Securities Inc. lifted its position in Cognex by 50.2% in the fourth quarter. Principal Securities Inc. now owns 1,047 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 350 shares during the period. Peregrine Investment Management Inc. bought a new stake in Cognex during the fourth quarter worth approximately $8,042,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Cognex by 41.5% in the fourth quarter. Vontobel Holding Ltd. now owns 42,905 shares of the scientific and technical instruments company’s stock worth $1,539,000 after buying an additional 12,581 shares during the period. Institutional investors own 88.12% of the company’s stock.

Cognex Trading Up 0.5 %

CGNX opened at $39.90 on Monday. The firm has a 50 day moving average of $38.14 and a two-hundred day moving average of $39.76. The firm has a market capitalization of $6.84 billion, a PE ratio of 76.73 and a beta of 1.40. Cognex has a 12-month low of $34.79 and a 12-month high of $53.13.

About Cognex

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.