State of Alaska Department of Revenue trimmed its stake in shares of Cognex Co. (NASDAQ:CGNX) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,087 shares of the scientific and technical instruments company’s stock after selling 2,258 shares during the period. State of Alaska Department of Revenue’s holdings in Cognex were worth $1,573,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Pinebridge Investments L.P. boosted its holdings in Cognex by 0.9% during the second quarter. Pinebridge Investments L.P. now owns 26,388 shares of the scientific and technical instruments company’s stock worth $1,266,000 after purchasing an additional 232 shares during the last quarter. Circle Wealth Management LLC lifted its position in Cognex by 4.6% during the 2nd quarter. Circle Wealth Management LLC now owns 7,686 shares of the scientific and technical instruments company’s stock worth $369,000 after buying an additional 336 shares in the last quarter. Schwab Charitable Fund boosted its stake in shares of Cognex by 8.9% during the 3rd quarter. Schwab Charitable Fund now owns 4,790 shares of the scientific and technical instruments company’s stock worth $235,000 after buying an additional 390 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Cognex by 12.0% during the 2nd quarter. Captrust Financial Advisors now owns 3,767 shares of the scientific and technical instruments company’s stock worth $181,000 after buying an additional 405 shares during the last quarter. Finally, Cornerstone Advisors Inc. boosted its stake in shares of Cognex by 42.7% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,408 shares of the scientific and technical instruments company’s stock worth $69,000 after buying an additional 421 shares during the last quarter. Institutional investors and hedge funds own 91.38% of the company’s stock.
Cognex stock opened at $56.65 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.71 and a quick ratio of 6.90. The company’s 50-day moving average is $54.04 and its 200-day moving average is $48.90. The firm has a market capitalization of $9.67 billion, a PE ratio of 45.69 and a beta of 2.09. Cognex Co. has a fifty-two week low of $39.98 and a fifty-two week high of $57.31.
Cognex (NASDAQ:CGNX) last issued its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business had revenue of $183.33 million during the quarter, compared to the consensus estimate of $177.78 million. Cognex had a net margin of 22.55% and a return on equity of 14.21%. Cognex’s revenue was down 21.1% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. As a group, analysts expect that Cognex Co. will post 0.82 EPS for the current year.
A number of analysts recently issued reports on the company. DA Davidson lifted their target price on Cognex from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. ValuEngine cut Cognex from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 10th. Cowen restated an “outperform” rating and issued a $60.00 price target (up from $50.00) on shares of Cognex in a research note on Monday, September 23rd. Morgan Stanley set a $47.00 price target on Cognex and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research lowered Cognex from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Cognex presently has a consensus rating of “Hold” and a consensus price target of $50.27.
In other Cognex news, Director Theodor Krantz sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $51.87, for a total value of $1,556,100.00. Following the transaction, the director now directly owns 52,500 shares in the company, valued at $2,723,175. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert Willett sold 143,294 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $53.16, for a total transaction of $7,617,509.04. Following the completion of the transaction, the chief executive officer now directly owns 143,294 shares in the company, valued at $7,617,509.04. The disclosure for this sale can be found here. Insiders sold 466,202 shares of company stock worth $24,246,619 in the last 90 days. Corporate insiders own 5.60% of the company’s stock.
Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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