Bruce Robinson J Sells 25,750 Shares of Cognex Corp. (CGNX) Stock
Cognex Corp. (NASDAQ:CGNX) Director Bruce Robinson J sold 25,750 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $60.95, for a total value of $1,569,462.50. Following the sale, the director now owns 16,875 shares in the company, valued at approximately $1,028,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Cognex Corp. (NASDAQ:CGNX) opened at 60.34 on Wednesday. Cognex Corp. has a 52-week low of $28.01 and a 52-week high of $61.50. The company has a 50-day moving average price of $54.54 and a 200 day moving average price of $48.34. The firm has a market capitalization of $5.17 billion, a PE ratio of 40.09 and a beta of 1.32.
Cognex Corp. (NASDAQ:CGNX) last posted its earnings results on Monday, October 31st. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.13. Cognex Corp. had a net margin of 26.59% and a return on equity of 13.67%. The company earned $147.95 million during the quarter, compared to analysts’ expectations of $50.93 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. Cognex Corp.’s quarterly revenue was up 37.5% compared to the same quarter last year. Analysts expect that Cognex Corp. will post $1.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Wednesday, November 30th. Cognex Corp.’s dividend payout ratio (DPR) is currently 20.13%.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cognex Corp. by 4.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,740 shares of the company’s stock worth $118,000 after buying an additional 121 shares during the period. Stephens Inc. AR boosted its position in Cognex Corp. by 3.3% in the second quarter. Stephens Inc. AR now owns 2,839 shares of the company’s stock valued at $122,000 after buying an additional 92 shares during the period. Creative Planning boosted its position in Cognex Corp. by 1.9% in the second quarter. Creative Planning now owns 3,669 shares of the company’s stock valued at $158,000 after buying an additional 70 shares during the period. NEXT Financial Group Inc boosted its position in Cognex Corp. by 1,140.7% in the third quarter. NEXT Financial Group Inc now owns 3,015 shares of the company’s stock valued at $159,000 after buying an additional 2,772 shares during the period. Finally, Advisor Group Inc. bought a new position in Cognex Corp. during the second quarter valued at $186,000. Institutional investors own 91.82% of the company’s stock.
CGNX has been the topic of several research reports. Canaccord Genuity restated a “hold” rating on shares of Cognex Corp. in a research note on Wednesday, November 2nd. Needham & Company LLC upped their price objective on Cognex Corp. from $42.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. upped their price objective on Cognex Corp. from $37.00 to $55.00 and gave the company an “underperform” rating in a research note on Tuesday, August 2nd. Zacks Investment Research cut Cognex Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Finally, Stephens initiated coverage on Cognex Corp. in a research note on Tuesday, October 25th. They set an “equal weight” rating and a $50.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Cognex Corp. has a consensus rating of “Buy” and a consensus target price of $49.11.
About Cognex Corp.
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’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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