BlueCrest Capital Management Ltd trimmed its holdings in Cognex Co. (NASDAQ:CGNX) by 66.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in CGNX. FDx Advisors Inc. increased its position in Cognex by 7.5% in the third quarter. FDx Advisors Inc. now owns 6,416 shares of the scientific and technical instruments company’s stock worth $708,000 after buying an additional 447 shares during the period. Sei Investments Co. increased its position in Cognex by 1,209.3% in the third quarter. Sei Investments Co. now owns 59,324 shares of the scientific and technical instruments company’s stock worth $6,542,000 after buying an additional 54,793 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in Cognex by 1,407.4% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 111,850 shares of the scientific and technical instruments company’s stock worth $12,335,000 after buying an additional 104,430 shares during the period. Advisor Group Inc. increased its position in Cognex by 40.9% in the third quarter. Advisor Group Inc. now owns 10,393 shares of the scientific and technical instruments company’s stock worth $1,147,000 after buying an additional 3,017 shares during the period. Finally, Rhumbline Advisers increased its position in Cognex by 12.8% in the third quarter. Rhumbline Advisers now owns 200,037 shares of the scientific and technical instruments company’s stock worth $22,060,000 after buying an additional 22,649 shares during the period. 82.30% of the stock is currently owned by institutional investors.
In related news, Director Anthony Sun sold 10,000 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $56.49, for a total value of $564,900.00. Following the completion of the sale, the director now directly owns 294,262 shares of the company’s stock, valued at approximately $16,622,860.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by corporate insiders.
Shares of NASDAQ CGNX traded down $1.05 during mid-day trading on Friday, hitting $49.29. 1,737,505 shares of the company traded hands, compared to its average volume of 2,177,699. Cognex Co. has a 1 year low of $39.74 and a 1 year high of $72.99. The company has a market cap of $8,520.17, a price-to-earnings ratio of 33.99 and a beta of 1.58.
Cognex (NASDAQ:CGNX) last announced its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. The business had revenue of $180.37 million during 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%. Cognex’s revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 earnings per share. research analysts anticipate that Cognex Co. will post 1.4 earnings per share for the current fiscal year.
Cognex announced that its board has authorized a share buyback program on Thursday, February 15th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, March 2nd were paid a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 0.37%. The ex-dividend date was Thursday, March 1st. Cognex’s dividend payout ratio is currently 12.41%.
Several equities research analysts have weighed in on CGNX shares. Zacks Investment Research lowered Cognex from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, January 2nd. Deutsche Bank set a $80.00 price target on Cognex and gave the stock a “buy” rating in a research note on Friday, January 19th. BidaskClub cut Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. ValuEngine cut Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, JPMorgan Chase raised Cognex from an “underweight” rating to a “neutral” rating and set a $63.00 price target for the company in a research note on Tuesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $66.92.
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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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