Cognex (NASDAQ:CGNX) Price Target Raised to $55.00 at Truist Financial

Cognex (NASDAQ:CGNX) had its price objective boosted by Truist Financial from $50.00 to $55.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

A number of other research firms have also recently commented on CGNX. The Goldman Sachs Group lifted their price objective on Cognex from $36.00 to $41.00 and gave the stock a sell rating in a research report on Monday, May 6th. Robert W. Baird upped their price objective on shares of Cognex from $40.00 to $44.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Needham & Company LLC lifted their target price on shares of Cognex from $46.00 to $48.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Sanford C. Bernstein increased their price target on Cognex from $52.00 to $55.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Finally, UBS Group raised Cognex from a neutral rating to a buy rating and lifted their price objective for the company from $42.00 to $54.00 in a research report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $49.54.

Cognex Trading Up 1.7 %

Shares of CGNX opened at $47.19 on Tuesday. Cognex has a 12-month low of $34.28 and a 12-month high of $59.51. The stock has a market cap of $8.10 billion, a P/E ratio of 81.36 and a beta of 1.42. The company has a 50-day moving average of $45.47 and a two-hundred day moving average of $41.65.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $210.80 million during the quarter, compared to the consensus estimate of $198.14 million. Cognex had a return on equity of 6.81% and a net margin of 11.76%. As a group, analysts forecast that Cognex will post 0.48 EPS for the current fiscal year.

Cognex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Wednesday, May 15th. Cognex’s dividend payout ratio (DPR) is presently 51.72%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CGNX. Contour Asset Management LLC purchased a new position in shares of Cognex in the 4th quarter valued at $11,454,000. Brown Capital Management LLC raised its position in Cognex by 5.1% in the fourth quarter. Brown Capital Management LLC now owns 5,419,313 shares of the scientific and technical instruments company’s stock valued at $226,202,000 after purchasing an additional 262,003 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Cognex during the fourth quarter worth about $12,417,000. BNP Paribas Financial Markets boosted its position in shares of Cognex by 237.0% in the fourth quarter. BNP Paribas Financial Markets now owns 53,049 shares of the scientific and technical instruments company’s stock worth $2,214,000 after buying an additional 37,306 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Cognex by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,295,729 shares of the scientific and technical instruments company’s stock valued at $54,084,000 after buying an additional 61,890 shares in the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

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.