Cognex (CGNX) Given a $80.00 Price Target at Deutsche Bank

Deutsche Bank set a $80.00 price objective on Cognex (NASDAQ:CGNX) in a research note released on Friday morning. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also recently weighed in on CGNX. Zacks Investment Research cut shares of Cognex from a strong-buy rating to a hold rating in a research report on Tuesday, October 3rd. Robert W. Baird lifted their price target on shares of Cognex from $50.00 to $62.00 and gave the company a neutral rating in a research report on Tuesday, October 31st. Canaccord Genuity lifted their price target on shares of Cognex from $47.50 to $60.00 and gave the company a hold rating in a research report on Tuesday, October 31st. JPMorgan Chase & Co. cut shares of Cognex from a neutral rating to an underweight rating and set a $62.50 price target for the company. in a research report on Wednesday, November 8th. Finally, BidaskClub cut shares of Cognex from a buy rating to a hold rating in a research report on Thursday, December 7th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Cognex has a consensus rating of Hold and an average target price of $63.00.

Shares of Cognex (NASDAQ:CGNX) traded up $0.79 on Friday, hitting $69.06. 1,514,137 shares of the company’s stock were exchanged, compared to its average volume of 1,660,000. Cognex has a 1-year low of $32.05 and a 1-year high of $72.99. The firm has a market capitalization of $12,100.00, a PE ratio of 50.78 and a beta of 1.50.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The business had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $255.95 million. During the same period last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up 75.6% on a year-over-year basis. sell-side analysts anticipate that Cognex will post 1.39 earnings per share for the current year.

In other news, CEO Robert Willett sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $127.19, for a total value of $12,719,000.00. Following the completion of the transaction, the chief executive officer now owns 100,000 shares of the company’s stock, valued at $12,719,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John J. Curran sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $132.60, for a total transaction of $1,657,500.00. Following the completion of the transaction, the insider now directly owns 6,250 shares of the company’s stock, valued at approximately $828,750. The disclosure for this sale can be found here. In the last three months, insiders sold 143,750 shares of company stock valued at $18,540,975. Insiders own 5.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CGNX. JPMorgan Chase & Co. boosted its stake in shares of Cognex by 262.0% in the second quarter. JPMorgan Chase & Co. now owns 123,502 shares of the scientific and technical instruments company’s stock valued at $10,486,000 after purchasing an additional 89,385 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Cognex in the second quarter worth approximately $630,000. Teachers Advisors LLC lifted its stake in Cognex by 12.4% in the second quarter. Teachers Advisors LLC now owns 267,938 shares of the scientific and technical instruments company’s stock worth $22,748,000 after acquiring an additional 29,609 shares during the last quarter. BlackRock Inc. lifted its stake in Cognex by 3.5% in the second quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock worth $584,711,000 after acquiring an additional 231,014 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Cognex by 29.1% in the second quarter. Amalgamated Bank now owns 16,957 shares of the scientific and technical instruments company’s stock worth $1,440,000 after acquiring an additional 3,827 shares during the last quarter. 42.10% of the stock is owned by institutional investors and hedge funds.

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About Cognex

Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.

Analyst Recommendations for Cognex (NASDAQ:CGNX)

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