Neuberger Berman Group LLC reduced its position in shares of Cognex Co. (NASDAQ:CGNX) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,978,144 shares of the scientific and technical instruments company’s stock after selling 6,772 shares during the period. Neuberger Berman Group LLC owned 2.28% of Cognex worth $218,150,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CGNX. Daiwa Securities Group Inc. bought a new stake in Cognex in the 2nd quarter valued at $102,000. Huntington National Bank boosted its holdings in Cognex by 67.3% in the 3rd quarter. Huntington National Bank now owns 1,367 shares of the scientific and technical instruments company’s stock valued at $151,000 after purchasing an additional 550 shares during the period. Private Advisor Group LLC bought a new stake in Cognex in the 3rd quarter valued at $214,000. Empirical Finance LLC bought a new stake in Cognex in the 3rd quarter valued at $209,000. Finally, IFP Advisors Inc boosted its holdings in Cognex by 46.8% in the 2nd quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock valued at $163,000 after purchasing an additional 612 shares during the period. 84.25% of the stock is owned by institutional investors and hedge funds.
CGNX has been the subject of a number of research reports. J P Morgan Chase & Co downgraded shares of Cognex from a “neutral” rating to an “underweight” rating and set a $62.50 price target for the company. in a report on Wednesday, November 8th. Canaccord Genuity increased their price target on shares of Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a report on Tuesday, October 31st. Zacks Investment Research downgraded shares of Cognex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Robert W. Baird increased their price target on shares of Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Finally, BidaskClub downgraded shares of Cognex from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $60.17.
Cognex Co. (NASDAQ:CGNX) opened at $63.41 on Wednesday. Cognex Co. has a one year low of $31.18 and a one year high of $72.99. The stock has a market cap of $11,148.89, a price-to-earnings ratio of 47.51 and a beta of 1.50.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Cognex had a net margin of 34.77% and a return on equity of 23.31%. The company had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $255.95 million. During the same quarter in the prior year, the company posted $0.31 EPS. The business’s revenue was up 75.6% on a year-over-year basis. equities research analysts forecast that Cognex Co. will post 1.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Thursday, November 16th. Cognex’s dividend payout ratio is 13.28%.
In related news, Director Theodor Krantz sold 15,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $134.05, for a total transaction of $2,010,750.00. Following the completion of the sale, the director now owns 26,250 shares in the company, valued at approximately $3,518,812.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Willett sold 100,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $127.19, for a total transaction of $12,719,000.00. Following the sale, the chief executive officer now owns 100,000 shares of the company’s stock, valued at approximately $12,719,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,750 shares of company stock valued at $18,540,975. Corporate insiders own 5.60% of the company’s stock.
Cognex Company Profile
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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