Investors Sell Shares of Cognex (CGNX) on Strength (CGNX)

Traders sold shares of Cognex Co. (NASDAQ:CGNX) on strength during trading on Monday. $10.13 million flowed into the stock on the tick-up and $30.20 million flowed out of the stock on the tick-down, for a money net flow of $20.07 million out of the stock. Of all equities tracked, Cognex had the 0th highest net out-flow for the day. Cognex traded up $0.83 for the day and closed at $58.96

CGNX has been the subject of a number of recent research reports. ValuEngine upgraded Cognex from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 31st. BidaskClub upgraded Cognex from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. Northcoast Research set a $56.00 price objective on Cognex and gave the company a “buy” rating in a report on Tuesday, July 31st. Morgan Stanley initiated coverage on Cognex in a report on Monday, August 20th. They issued an “equal weight” rating and a $57.00 price objective for the company. Finally, Zacks Investment Research upgraded Cognex from a “sell” rating to a “hold” rating and set a $57.00 price objective for the company in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Cognex presently has an average rating of “Hold” and an average price target of $54.79.

The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 42.11 and a beta of 1.66.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Monday, July 30th. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $211.26 million during the quarter, compared to the consensus estimate of $204.87 million. Cognex had a return on equity of 22.95% and a net margin of 20.57%. Cognex’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. equities analysts anticipate that Cognex Co. will post 1.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 17th were issued a dividend of $0.045 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $0.18 dividend on an annualized basis and a yield of 0.31%. Cognex’s payout ratio is currently 12.41%.

In other Cognex news, Director Jerry A. Schneider sold 5,000 shares of the stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $54.29, for a total transaction of $271,450.00. Following the completion of the sale, the director now directly owns 7,000 shares in the company, valued at approximately $380,030. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anthony Sun sold 10,000 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $53.01, for a total value of $530,100.00. Following the sale, the director now owns 284,262 shares of the company’s stock, valued at $15,068,728.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,500 shares of company stock valued at $1,493,200. Company insiders own 5.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Cognex by 6.3% during the 2nd quarter. BlackRock Inc. now owns 17,769,276 shares of the scientific and technical instruments company’s stock worth $792,687,000 after acquiring an additional 1,060,494 shares during the period. Bank of New York Mellon Corp grew its holdings in Cognex by 15.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,260,702 shares of the scientific and technical instruments company’s stock worth $368,509,000 after acquiring an additional 1,124,420 shares during the period. Janus Henderson Group PLC grew its holdings in Cognex by 103.1% during the 2nd quarter. Janus Henderson Group PLC now owns 4,797,355 shares of the scientific and technical instruments company’s stock worth $214,025,000 after acquiring an additional 2,435,314 shares during the period. Eagle Asset Management Inc. grew its holdings in Cognex by 41.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 3,345,230 shares of the scientific and technical instruments company’s stock worth $149,230,000 after acquiring an additional 980,194 shares during the period. Finally, Joho Capital LLC grew its holdings in Cognex by 24.1% during the 2nd quarter. Joho Capital LLC now owns 3,069,024 shares of the scientific and technical instruments company’s stock worth $136,909,000 after acquiring an additional 595,358 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Cognex Company Profile (NASDAQ:CGNX)

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing 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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