BlueCrest Capital Management Ltd decreased its stake in Cognex Co. (NASDAQ:CGNX) by 66.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,236 shares of the scientific and technical instruments company’s stock after selling 18,658 shares during the period. BlueCrest Capital Management Ltd’s holdings in Cognex were worth $565,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. FDx Advisors Inc. lifted its holdings in shares of Cognex by 7.5% in the 3rd quarter. FDx Advisors Inc. now owns 6,416 shares of the scientific and technical instruments company’s stock worth $708,000 after purchasing an additional 447 shares during the last quarter. National Planning Corp lifted its holdings in shares of Cognex by 19.6% in the 3rd quarter. National Planning Corp now owns 2,876 shares of the scientific and technical instruments company’s stock worth $330,000 after purchasing an additional 471 shares during the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Cognex by 9.1% in the 3rd quarter. First Republic Investment Management Inc. now owns 6,279 shares of the scientific and technical instruments company’s stock worth $692,000 after purchasing an additional 525 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Cognex by 11.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,175 shares of the scientific and technical instruments company’s stock worth $570,000 after purchasing an additional 539 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Cognex by 3.7% in the 3rd quarter. Stifel Financial Corp now owns 16,139 shares of the scientific and technical instruments company’s stock worth $1,781,000 after purchasing an additional 576 shares during the last quarter. 81.97% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Anthony Sun sold 10,000 shares of Cognex stock in a transaction on Monday, March 12th. The stock was sold at an average price of $56.49, for a total transaction of $564,900.00. Following the transaction, the director now directly owns 294,262 shares in the company, valued at approximately $16,622,860.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by company insiders.
Several brokerages have weighed in on CGNX. ValuEngine downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Zacks Investment Research raised Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. BidaskClub downgraded Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Finally, Deutsche Bank set a $80.00 target price on Cognex and gave the company a “buy” rating in a research note on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $66.83.
Shares of Cognex Co. (NASDAQ CGNX) opened at $55.30 on Friday. The firm has a market capitalization of $9,450.00, a price-to-earnings ratio of 56.43 and a beta of 1.54. Cognex Co. has a 12 month low of $38.67 and a 12 month high of $72.99.
Cognex (NASDAQ:CGNX) last announced its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm had revenue of $180.37 million for the quarter, compared to the consensus estimate of $178.75 million. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. sell-side analysts predict that Cognex Co. will post 1.4 earnings per share for the current year.
Cognex declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 15th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Thursday, March 1st. Cognex’s dividend payout ratio (DPR) is presently 18.37%.
TRADEMARK VIOLATION WARNING: This story was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/17/bluecrest-capital-management-ltd-sells-18658-shares-of-cognex-co-cgnx.html.
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.
Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Co. (NASDAQ:CGNX).
Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.