Jane Street Group LLC acquired a new stake in shares of Cognex Co. (NASDAQ:CGNX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,218 shares of the scientific and technical instruments company’s stock, valued at approximately $380,000.
A number of other institutional investors and hedge funds have also bought and sold shares of CGNX. BlackRock Inc. boosted its holdings in Cognex by 128.0% during the 4th quarter. BlackRock Inc. now owns 15,768,475 shares of the scientific and technical instruments company’s stock valued at $964,400,000 after acquiring an additional 8,852,130 shares during the period. Brown Capital Management LLC raised its position in Cognex by 68.0% during the 4th quarter. Brown Capital Management LLC now owns 6,736,963 shares of the scientific and technical instruments company’s stock valued at $412,033,000 after purchasing an additional 2,725,974 shares in the last quarter. Carillon Tower Advisers Inc. bought a new stake in Cognex during the 4th quarter valued at $117,444,000. Eagle Asset Management Inc. raised its position in Cognex by 87.3% during the 4th quarter. Eagle Asset Management Inc. now owns 2,830,892 shares of the scientific and technical instruments company’s stock valued at $172,502,000 after purchasing an additional 1,319,135 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in Cognex by 63.2% during the 4th quarter. OppenheimerFunds Inc. now owns 2,914,913 shares of the scientific and technical instruments company’s stock valued at $178,276,000 after purchasing an additional 1,128,402 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.
A number of equities research analysts have weighed in on CGNX shares. Northcoast Research raised Cognex from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 4th. Deutsche Bank set a $80.00 target price on Cognex and gave the company a “buy” rating in a research report on Friday, January 19th. BidaskClub raised Cognex from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research raised Cognex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 13th. Finally, Goldman Sachs lowered Cognex from a “buy” rating to a “neutral” rating and decreased their target price for the company from $78.00 to $55.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $65.21.
CGNX opened at $50.26 on Thursday. The firm has a market capitalization of $8,591.05, a PE ratio of 34.66 and a beta of 1.58. Cognex Co. has a 12 month low of $39.74 and a 12 month high of $72.99.
Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The firm had revenue of $180.37 million during the quarter, compared to analyst estimates of $178.75 million. Cognex had a return on equity of 24.23% and a net margin of 23.69%. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. research analysts anticipate that Cognex Co. will post 1.4 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were given a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Thursday, March 1st. Cognex’s payout ratio is 12.41%.
Cognex declared that its board has approved a stock buyback program on Thursday, February 15th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other news, Director Anthony Sun sold 10,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 294,262 shares of the company’s stock, valued at approximately $16,622,860.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.40% of the company’s stock.
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Cognex Company Profile
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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