Millennium Management LLC Sells 50,783 Shares of Cognex Co. (CGNX)

Millennium Management LLC reduced its position in Cognex Co. (NASDAQ:CGNX) by 24.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 160,682 shares of the scientific and technical instruments company’s stock after selling 50,783 shares during the quarter. Millennium Management LLC owned about 0.09% of Cognex worth $9,827,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sciencast Management LP acquired a new position in shares of Cognex during the 4th quarter worth $779,000. Flinton Capital Management LLC grew its stake in shares of Cognex by 142.7% during the 4th quarter. Flinton Capital Management LLC now owns 11,104 shares of the scientific and technical instruments company’s stock worth $679,000 after purchasing an additional 6,528 shares during the period. Meadow Creek Investment Management LLC grew its stake in shares of Cognex by 142.7% during the 4th quarter. Meadow Creek Investment Management LLC now owns 15,268 shares of the scientific and technical instruments company’s stock worth $934,000 after purchasing an additional 8,976 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Cognex by 146.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,763 shares of the scientific and technical instruments company’s stock worth $781,000 after purchasing an additional 7,588 shares during the period. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Cognex by 61.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 766,848 shares of the scientific and technical instruments company’s stock worth $46,900,000 after purchasing an additional 293,005 shares during the period. 82.29% of the stock is currently owned by institutional investors.

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A number of equities analysts have recently weighed in on the stock. Northcoast Research raised shares of Cognex from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 4th. JPMorgan Chase raised shares of Cognex from an “underweight” rating to a “neutral” rating and set a $63.00 price target on the stock in a research note on Tuesday, April 3rd. ValuEngine cut shares of Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Zacks Investment Research raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Finally, BidaskClub cut shares of Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Cognex currently has an average rating of “Hold” and an average price target of $66.92.

Shares of NASDAQ CGNX opened at $49.29 on Monday. The stock has a market capitalization of $8,520.18, a P/E ratio of 34.23 and a beta of 1.57. Cognex Co. has a 52 week low of $39.74 and a 52 week high of $72.99.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. The firm had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $178.75 million. Cognex had a net margin of 23.69% and a return on equity of 24.23%. The firm’s revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. equities analysts anticipate that Cognex Co. will post 1.4 earnings per share for the current year.

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. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $0.18 dividend on an annualized basis and a yield of 0.37%. Cognex’s payout ratio is 12.41%.

Cognex declared that its board has initiated a share buyback plan on Thursday, February 15th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

In related news, Director Anthony Sun sold 10,000 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $56.49, for a total value of $564,900.00. Following 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 filing with the SEC, which is available through this hyperlink. 5.40% of the stock is currently owned by corporate insiders.

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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.

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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