Cognex (NASDAQ:CGNX) Given New $55.00 Price Target at Truist Financial

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

Several other research analysts have also commented on the company. The Goldman Sachs Group lifted their target price on Cognex from $36.00 to $41.00 and gave the stock a sell rating in a research report on Monday, May 6th. Stephens boosted their price objective on Cognex from $40.00 to $45.00 and gave the company an equal weight rating in a research report on Friday, May 3rd. Robert W. Baird boosted their price objective on Cognex from $40.00 to $44.00 and gave the company a neutral rating in a research report on Friday, May 3rd. UBS Group upgraded Cognex from a neutral rating to a buy rating and boosted their price objective for the company from $42.00 to $54.00 in a research report on Tuesday, March 19th. Finally, Needham & Company LLC boosted their price objective on Cognex from $46.00 to $48.00 and gave the company a buy rating in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $49.54.

Cognex Trading Up 0.3 %

Shares of CGNX opened at $47.28 on Tuesday. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 81.52 and a beta of 1.42. The stock has a 50 day moving average of $45.90 and a 200-day moving average of $41.76. Cognex has a 52 week low of $34.28 and a 52 week high of $59.51.

Cognex (NASDAQ:CGNX) last issued its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 EPS for the quarter. The company had revenue of $210.80 million during the quarter, compared to analyst estimates of $198.14 million. Cognex had a return on equity of 6.81% and a net margin of 11.76%. On average, sell-side analysts predict that Cognex will post 0.46 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.63%. The ex-dividend date was Wednesday, May 15th. Cognex’s payout ratio is currently 51.72%.

Institutional Trading of Cognex

Several hedge funds have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV raised its stake in shares of Cognex by 94.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 286 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Cognex in the 3rd quarter worth $30,000. Rise Advisors LLC raised its stake in shares of Cognex by 1,239.7% in the 1st quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 719 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Cognex by 303.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 579 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Cognex by 276.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock worth $51,000 after buying an additional 798 shares in the last quarter. Institutional investors own 88.12% of the company’s stock.

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.