Janus Henderson Group PLC cut its stake in Cognex Corporation (NASDAQ:CGNX) by 9.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 718,921 shares of the scientific and technical instruments company’s stock after selling 72,853 shares during the period. Janus Henderson Group PLC owned approximately 0.83% of Cognex Corporation worth $61,031,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. acquired a new stake in shares of Cognex Corporation in the second quarter valued at approximately $102,000. Fifth Third Bancorp grew its position in shares of Cognex Corporation by 69.9% in the first quarter. Fifth Third Bancorp now owns 1,580 shares of the scientific and technical instruments company’s stock valued at $133,000 after purchasing an additional 650 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Cognex Corporation in the second quarter valued at approximately $135,000. IFP Advisors Inc grew its position in shares of Cognex Corporation by 46.8% in the second quarter. IFP Advisors Inc now owns 1,919 shares of the scientific and technical instruments company’s stock valued at $163,000 after purchasing an additional 612 shares during the last quarter. Finally, FNY Partners Fund LP acquired a new stake in shares of Cognex Corporation in the first quarter valued at approximately $167,000. 87.25% of the stock is owned by institutional investors.
Shares of Cognex Corporation (NASDAQ:CGNX) opened at 118.85 on Friday. The company’s 50-day moving average is $111.21 and its 200-day moving average is $96.09. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 54.29 and a beta of 1.42. Cognex Corporation has a 12 month low of $49.68 and a 12 month high of $119.35.
Cognex Corporation (NASDAQ:CGNX) last released its earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. The business had revenue of $172.90 million for the quarter, compared to the consensus estimate of $169.79 million. Cognex Corporation had a net margin of 33.10% and a return on equity of 19.51%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. On average, equities research analysts forecast that Cognex Corporation will post $2.55 earnings per share for the current fiscal year.
Several research firms have recently commented on CGNX. Cowen and Company reiterated a “buy” rating and issued a $100.00 price target on shares of Cognex Corporation in a research report on Tuesday, July 11th. Wolfe Research began coverage on shares of Cognex Corporation in a research report on Tuesday, July 11th. They issued a “peer perform” rating on the stock. Zacks Investment Research upgraded shares of Cognex Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, July 4th. Finally, BidaskClub lowered shares of Cognex Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Cognex Corporation has an average rating of “Buy” and an average price target of $82.75.
In other news, Director Bruce Robinson J sold 7,000 shares of Cognex Corporation stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total value of $745,500.00. Following the transaction, the director now directly owns 5,625 shares of the company’s stock, valued at $599,062.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick Alias sold 5,000 shares of Cognex Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $111.31, for a total transaction of $556,550.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $556,550. The disclosure for this sale can be found here. Over the last three months, insiders sold 126,750 shares of company stock worth $13,242,726. 5.60% of the stock is currently owned by insiders.
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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