Unigestion Holding SA acquired a new stake in shares of Cognex Co. (NASDAQ:CGNX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,506 shares of the scientific and technical instruments company’s stock, valued at approximately $614,000.
Several other hedge funds and other institutional investors also recently modified their holdings of CGNX. NEXT Financial Group Inc grew its position in shares of Cognex by 1,081.8% during the 2nd quarter. NEXT Financial Group Inc now owns 520 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 476 shares during the period. Bartlett & Co. LLC acquired a new position in shares of Cognex in the 3rd quarter valued at approximately $25,000. Huntington National Bank grew its position in shares of Cognex by 173.6% in the 2nd quarter. Huntington National Bank now owns 632 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 401 shares during the period. Coastal Capital Group Inc. acquired a new position in shares of Cognex in the 2nd quarter valued at approximately $38,000. Finally, Quadrant Capital Group LLC grew its position in shares of Cognex by 622.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,199 shares of the scientific and technical instruments company’s stock valued at $56,000 after purchasing an additional 1,033 shares during the period. 91.98% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on the company. Morgan Stanley set a $47.00 price objective on Cognex and gave the company a “hold” rating in a research report on Friday, November 1st. Cowen reiterated an “outperform” rating and issued a $60.00 price objective (up from $50.00) on shares of Cognex in a research report on Monday, September 23rd. BidaskClub upgraded Cognex from a “buy” rating to a “strong-buy” rating in a research report on Thursday. ValuEngine lowered Cognex from a “sell” rating to a “strong sell” rating in a research report on Monday, October 14th. Finally, DA Davidson boosted their price objective on Cognex from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $50.45.
NASDAQ CGNX traded down $0.35 during trading on Friday, hitting $53.34. The stock had a trading volume of 889,500 shares, compared to its average volume of 1,163,167. The company has a market capitalization of $9.32 billion, a PE ratio of 43.02 and a beta of 2.10. Cognex Co. has a 12 month low of $34.88 and a 12 month high of $57.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.90 and a current ratio of 7.71. The company’s 50-day moving average price is $50.16 and its two-hundred day moving average price is $46.56.
Cognex (NASDAQ:CGNX) last announced 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. Cognex had a return on equity of 14.21% and a net margin of 22.55%. The business had revenue of $183.33 million during the quarter, compared to analyst estimates of $177.78 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was down 21.1% compared to the same quarter last year. As a group, equities analysts anticipate that Cognex Co. will post 0.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Thursday, November 14th. This is an increase from Cognex’s previous quarterly dividend of $0.05. Cognex’s payout ratio is currently 16.13%.
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. 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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