Manchester Capital Management LLC bought a new stake in Cognex Co. (NASDAQ:CGNX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,554 shares of the scientific and technical instruments company’s stock, valued at approximately $296,000.
A number of other institutional investors have also recently bought and sold shares of the business. State of Michigan Retirement System increased its stake in shares of Cognex by 0.8% in the third quarter. State of Michigan Retirement System now owns 62,989 shares of the scientific and technical instruments company’s stock valued at $4,101,000 after buying an additional 500 shares during the period. Xponance Inc. increased its stake in shares of Cognex by 8.4% in the third quarter. Xponance Inc. now owns 35,179 shares of the scientific and technical instruments company’s stock valued at $2,290,000 after buying an additional 2,736 shares during the period. Conestoga Capital Advisors LLC increased its stake in shares of Cognex by 14.6% in the third quarter. Conestoga Capital Advisors LLC now owns 204,280 shares of the scientific and technical instruments company’s stock valued at $13,299,000 after buying an additional 26,089 shares during the period. Icon Wealth Partners LLC acquired a new stake in shares of Cognex in the third quarter valued at about $384,000. Finally, NEXT Financial Group Inc acquired a new stake in shares of Cognex in the third quarter valued at about $66,000. Hedge funds and other institutional investors own 93.62% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Cognex from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Thursday. Stephens initiated coverage on Cognex in a research note on Friday, October 16th. They set an “overweight” rating and a $85.00 target price for the company. Morgan Stanley raised their target price on Cognex from $55.00 to $57.00 and gave the stock an “underweight” rating in a research note on Thursday. Daiwa Capital Markets cut Cognex from an “outperform” rating to a “neutral” rating in a research note on Friday, September 4th. Finally, Robert W. Baird raised Cognex from an “underperform” rating to a “neutral” rating and set a $63.00 target price for the company in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.56.
In other news, CEO Robert Willett sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $70.51, for a total value of $7,051,000.00. Also, SVP Sheila Marie Dipalma sold 43,500 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $66.56, for a total value of $2,895,360.00. Following the completion of the transaction, the senior vice president now owns 8,500 shares in the company, valued at approximately $565,760. The disclosure for this sale can be found here. Insiders sold 379,522 shares of company stock worth $25,853,379 in the last 90 days. Corporate insiders own 5.20% of the company’s stock.
Shares of Cognex stock opened at $67.66 on Friday. Cognex Co. has a 52 week low of $35.20 and a 52 week high of $71.76. The stock has a 50 day moving average price of $65.51 and a two-hundred day moving average price of $61.34. The stock has a market capitalization of $11.71 billion, a PE ratio of 83.53 and a beta of 1.68.
Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Wednesday, October 28th. The scientific and technical instruments company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.16. Cognex had a return on equity of 10.67% and a net margin of 20.50%. As a group, analysts expect that Cognex Co. will post 0.73 earnings per share for the current fiscal year.
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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