Truist Financial Increases Cognex (NASDAQ:CGNX) Price Target to $43.00

Cognex (NASDAQ:CGNX) had its price target raised by equities researchers at Truist Financial from $42.00 to $43.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the scientific and technical instruments company’s stock. Truist Financial’s price target suggests a potential upside of 8.23% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Needham & Company LLC lowered their price target on shares of Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a report on Friday, November 1st. Cantor Fitzgerald raised shares of Cognex to a “strong-buy” rating in a research report on Friday, December 20th. Stephens reaffirmed an “overweight” rating and set a $55.00 price target on shares of Cognex in a research report on Thursday, January 2nd. Finally, Citigroup reduced their price target on shares of Cognex from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cognex presently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Cognex Price Performance

Shares of NASDAQ CGNX opened at $39.73 on Thursday. The company has a market cap of $6.81 billion, a PE ratio of 76.41 and a beta of 1.40. Cognex has a 12 month low of $34.79 and a 12 month high of $53.13. The company has a 50-day simple moving average of $38.21 and a 200-day simple moving average of $40.54.

Insider Transactions at Cognex

In related news, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total value of $110,758.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony Sun sold 26,000 shares of Cognex stock in a transaction on Friday, November 22nd. The stock was 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 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. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Cognex

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in Cognex during the third quarter valued at $25,000. Advisors Asset Management Inc. increased 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 valued at $29,000 after purchasing an additional 394 shares during the last quarter. Truvestments Capital LLC bought a new stake in Cognex during the third quarter valued at $36,000. Clean Yield Group increased its stake in Cognex by 1,686.7% during the fourth quarter. Clean Yield Group now owns 1,072 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Cognex during the third quarter valued at $40,000. 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.