Cognex (NASDAQ:CGNX) Trading 1.1% Higher

Shares of Cognex Co. (NASDAQ:CGNX) traded up 1.1% during mid-day trading on Wednesday . The company traded as high as $44.38 and last traded at $44.61, 724,588 shares changed hands during trading. A decline of 56% from the average session volume of 1,653,720 shares. The stock had previously closed at $44.12.

A number of equities research analysts recently issued reports on the company. Morgan Stanley lowered Cognex from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $42.00 to $36.00 in a research note on Monday. ValuEngine lowered Cognex from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet lowered Cognex from a “b-” rating to a “c+” rating in a research note on Thursday, March 12th. BidaskClub raised Cognex from a “sell” rating to a “hold” rating in a research note on Friday, March 20th. Finally, Zacks Investment Research lowered Cognex from a “hold” rating to a “sell” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $49.20.

The firm has a fifty day simple moving average of $47.29 and a 200 day simple moving average of $50.99. The company has a market capitalization of $7.62 billion, a PE ratio of 40.03 and a beta of 1.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.54 and a current ratio of 5.04.

Cognex (NASDAQ:CGNX) last released its quarterly earnings data on Thursday, February 13th. The scientific and technical instruments company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $169.77 million for the quarter, compared to analysts’ expectations of $161.20 million. Cognex had a return on equity of 16.39% and a net margin of 28.09%. Research analysts expect that Cognex Co. will post 0.73 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 28th were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.22 annualized dividend and a yield of 0.47%. Cognex’s payout ratio is currently 18.97%.

In other Cognex news, Director Jerry A. Schneider sold 12,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $51.33, for a total transaction of $615,960.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $513,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.20% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Wealth Quarterback LLC purchased a new position in shares of Cognex in the 4th quarter valued at $19,242,210,000. Bank of New York Mellon Corp increased its holdings in shares of Cognex by 7.5% in the 4th quarter. Bank of New York Mellon Corp now owns 12,651,452 shares of the scientific and technical instruments company’s stock valued at $708,988,000 after acquiring an additional 878,444 shares during the period. Fred Alger Management LLC increased its holdings in shares of Cognex by 69.7% in the 4th quarter. Fred Alger Management LLC now owns 4,346,751 shares of the scientific and technical instruments company’s stock valued at $243,592,000 after acquiring an additional 1,784,624 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cognex by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,114,804 shares of the scientific and technical instruments company’s stock valued at $118,414,000 after acquiring an additional 79,924 shares during the period. Finally, Norges Bank purchased a new position in shares of Cognex in the 4th quarter valued at $103,498,000. Institutional investors and hedge funds own 93.07% of the company’s stock.

Cognex Company Profile (NASDAQ:CGNX)

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.

Further Reading: How can you know how many shares are floating?

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.