Flinton Capital Management LLC lifted its position in shares of Cognex Corporation (NASDAQ:CGNX) by 70.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,080 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,680 shares during the period. Flinton Capital Management LLC’s holdings in Cognex Corporation were worth $346,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in CGNX. BlackRock Inc. increased its position in shares of Cognex Corporation by 16,264.7% during the first quarter. BlackRock Inc. now owns 6,656,024 shares of the scientific and technical instruments company’s stock valued at $558,773,000 after acquiring an additional 6,615,351 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Cognex Corporation by 126.7% in the second quarter. Ameriprise Financial Inc. now owns 2,342,312 shares of the scientific and technical instruments company’s stock worth $198,864,000 after purchasing an additional 1,309,047 shares during the last quarter. Coatue Management LLC purchased a new stake in Cognex Corporation in the second quarter worth approximately $87,064,000. Goldman Sachs Group Inc. boosted its holdings in Cognex Corporation by 86.7% in the first quarter. Goldman Sachs Group Inc. now owns 888,783 shares of the scientific and technical instruments company’s stock worth $74,613,000 after purchasing an additional 412,652 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in Cognex Corporation in the second quarter worth approximately $31,281,000. 87.25% of the stock is owned by institutional investors.
In related news, CEO Robert Willett sold 25,000 shares of Cognex Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $103.37, for a total value of $2,584,250.00. Following the completion of the transaction, the chief executive officer now owns 25,000 shares in the company, valued at $2,584,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerry A. Schneider sold 5,000 shares of Cognex Corporation stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $102.67, for a total transaction of $513,350.00. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $616,020. The disclosure for this sale can be found here. In the last three months, insiders sold 126,750 shares of company stock valued at $13,242,726. Insiders own 5.60% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Cognex Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Wolfe Research upgraded shares of Cognex Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Cowen and Company restated an “outperform” rating and issued a $135.00 target price (up previously from $100.00) on shares of Cognex Corporation in a report on Tuesday, August 8th. Finally, BidaskClub upgraded shares of Cognex Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $82.75.
Shares of Cognex Corporation (CGNX) opened at 117.48 on Thursday. The firm has a 50-day moving average of $110.71 and a 200 day moving average of $95.93. Cognex Corporation has a 52-week low of $49.68 and a 52-week high of $117.91. The stock has a market capitalization of $10.17 billion, a PE ratio of 53.67 and a beta of 1.42.
Cognex Corporation (NASDAQ:CGNX) last announced its quarterly earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The business had revenue of $172.90 million during the quarter, compared to analysts’ expectations of $169.79 million. During the same period last year, the business earned $0.50 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities research analysts forecast that Cognex Corporation will post $2.55 EPS for the current fiscal year.
About Cognex Corporation
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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