Cognex’s (CGNX) Overweight Rating Reaffirmed at Stephens

Cognex (NASDAQ:CGNX)‘s stock had its “overweight” rating reaffirmed by stock analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They presently have a $55.00 price target on the scientific and technical instruments company’s stock. Stephens’ price objective suggests a potential upside of 51.72% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Needham & Company LLC reduced their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Truist Financial reduced their price target on shares of Cognex from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald upgraded Cognex to a “strong-buy” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Cognex Price Performance

Cognex stock opened at $36.25 on Thursday. Cognex has a 12 month low of $34.79 and a 12 month high of $53.13. The stock has a market capitalization of $6.22 billion, a PE ratio of 69.71 and a beta of 1.39. The business has a 50 day simple moving average of $38.83 and a 200-day simple moving average of $41.16.

Insider Buying and Selling

In related news, CTO Joerg Kuechen sold 2,934 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony Sun sold 26,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were 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 directly owns 26,608 shares of the company’s stock, valued at approximately $1,065,118.24. This trade represents a 49.42 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cognex

A number of hedge funds have recently modified their holdings of the business. Riverview Trust Co acquired a new position in Cognex in the third quarter valued at about $25,000. Advisors Asset Management Inc. lifted its stake in Cognex by 123.1% during the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 394 shares in the last quarter. Truvestments Capital LLC acquired a new position in Cognex during the 3rd quarter worth about $36,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cognex during the third quarter worth about $40,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Cognex during the 2nd quarter worth approximately $55,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cognex Company Profile

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.