Insider Selling: Cognex Corp. (CGNX) Director Sells $1,569,462.50 in Stock
Cognex Corp. (NASDAQ:CGNX) Director Bruce Robinson J sold 25,750 shares of the firm’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $60.95, for a total transaction of $1,569,462.50. Following the sale, the director now directly owns 16,875 shares of the company’s stock, valued at $1,028,531.25. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Cognex Corp. (NASDAQ:CGNX) opened at 59.71 on Thursday. The stock has a 50 day moving average of $54.54 and a 200 day moving average of $48.34. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 39.67 and a beta of 1.32. Cognex Corp. has a 12-month low of $28.01 and a 12-month high of $61.50.
Cognex Corp. (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, October 31st. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.13. Cognex Corp. had a net margin of 26.59% and a return on equity of 13.67%. The business earned $147.95 million during the quarter, compared to analysts’ expectations of $50.93 million. During the same period in the previous year, the company earned $1.19 earnings per share. Cognex Corp.’s revenue for the quarter was up 37.5% on a year-over-year basis. Equities research analysts anticipate that Cognex Corp. will post $1.57 earnings per share for the current year.
The company also recently disclosed 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 of this dividend is Wednesday, November 30th. Cognex Corp.’s payout ratio is 20.13%.
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Hedge funds have recently modified their holdings of the company. Hermes Investment Management Ltd. boosted its stake in shares of Cognex Corp. by 16.8% in the second quarter. Hermes Investment Management Ltd. now owns 1,234,645 shares of the company’s stock worth $53,213,000 after buying an additional 177,816 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of Cognex Corp. by 71.0% in the second quarter. LS Investment Advisors LLC now owns 5,143 shares of the company’s stock worth $222,000 after buying an additional 2,136 shares during the last quarter. First Quadrant L P CA boosted its stake in shares of Cognex Corp. by 8.7% in the second quarter. First Quadrant L P CA now owns 290,600 shares of the company’s stock worth $12,525,000 after buying an additional 23,200 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Cognex Corp. by 4.4% in the second quarter. Nordea Investment Management AB now owns 25,989 shares of the company’s stock worth $1,120,000 after buying an additional 1,091 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Cognex Corp. by 3.3% in the second quarter. Nisa Investment Advisors LLC now owns 10,950 shares of the company’s stock worth $472,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.
CGNX has been the subject of a number of recent analyst reports. Stephens initiated coverage on shares of Cognex Corp. in a report on Tuesday, October 25th. They set an “equal weight” rating and a $50.00 price target for the company. raised shares of Cognex Corp. from an “underperform” rating to an “outperform” rating in a report on Monday, November 7th. Canaccord Genuity set a $49.00 price target on shares of Cognex Corp. and gave the company a “hold” rating in a report on Tuesday, September 20th. Zacks Investment Research lowered shares of Cognex Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 19th. Finally, Needham & Company LLC raised their price objective on shares of Cognex Corp. from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, November 1st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Cognex Corp. currently has a consensus rating of “Buy” and an average target price of $49.11.
Cognex Corp. Company Profile
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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