Robert W. Baird Issues Positive Forecast for Cognex (NASDAQ:CGNX) Stock Price

Cognex (NASDAQ:CGNX) had its price target upped by Robert W. Baird from $30.00 to $32.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the scientific and technical instruments company’s stock.

CGNX has been the topic of several other reports. Truist Financial lowered their price objective on shares of Cognex from $37.00 to $29.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Stephens reiterated an “overweight” rating and issued a $55.00 price target on shares of Cognex in a research note on Wednesday, March 12th. Citigroup decreased their price target on shares of Cognex from $37.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Cowen upgraded shares of Cognex from a “hold” rating to a “buy” rating in a research note on Monday, April 28th. Finally, HSBC downgraded shares of Cognex from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.17.

Cognex Price Performance

Cognex stock opened at $30.54 on Monday. The firm has a market capitalization of $5.13 billion, a PE ratio of 50.07 and a beta of 1.47. The company’s 50-day moving average is $28.39 and its 200-day moving average is $32.73. Cognex has a fifty-two week low of $22.67 and a fifty-two week high of $53.13.

Cognex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.05%. Cognex’s dividend payout ratio (DPR) is presently 47.06%.

Hedge Funds Weigh In On Cognex

A number of hedge funds have recently bought and sold shares of CGNX. Geneos Wealth Management Inc. raised its stake in Cognex by 402.2% during the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 736 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Cognex in the fourth quarter valued at $29,000. Farther Finance Advisors LLC increased its stake in Cognex by 439.4% in the first quarter. Farther Finance Advisors LLC now owns 971 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 791 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Cognex by 50.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company’s stock worth $32,000 after acquiring an additional 295 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Cognex by 155.3% during the first quarter. GAMMA Investing LLC now owns 1,062 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 646 shares during 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.