Edgestream Partners L.P. Acquires Shares of 10,190 Cognex Co. (NASDAQ:CGNX)

Edgestream Partners L.P. acquired a new stake in Cognex Co. (NASDAQ:CGNX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,190 shares of the scientific and technical instruments company’s stock, valued at approximately $856,000.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in Cognex by 2.1% in the 1st quarter. BlackRock Inc. now owns 18,950,120 shares of the scientific and technical instruments company’s stock valued at $1,572,669,000 after buying an additional 393,117 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cognex by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 12,223,764 shares of the scientific and technical instruments company’s stock worth $1,014,451,000 after purchasing an additional 154,938 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Cognex by 3.0% during the second quarter. Alliancebernstein L.P. now owns 5,023,636 shares of the scientific and technical instruments company’s stock worth $422,237,000 after purchasing an additional 147,091 shares during the last quarter. Fred Alger Management LLC lifted its position in shares of Cognex by 23.5% during the first quarter. Fred Alger Management LLC now owns 3,280,344 shares of the scientific and technical instruments company’s stock worth $272,236,000 after purchasing an additional 623,431 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Cognex by 18.3% during the first quarter. Nordea Investment Management AB now owns 2,733,545 shares of the scientific and technical instruments company’s stock worth $227,978,000 after purchasing an additional 423,509 shares during the last quarter. 88.25% of the stock is owned by institutional investors.

Several equities analysts have recently commented on the stock. HSBC cut shares of Cognex from a “buy” rating to a “hold” rating and set a $92.00 price target on the stock. in a research report on Friday, August 6th. Zacks Investment Research raised shares of Cognex from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Wednesday, August 11th. DA Davidson reissued a “neutral” rating on shares of Cognex in a report on Tuesday, August 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognex in a report on Friday, August 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cognex currently has an average rating of “Hold” and a consensus price target of $90.29.

In related news, Director Anthony Sun sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $86.41, for a total transaction of $2,592,300.00. Following the transaction, the director now owns 337,262 shares in the company, valued at $29,142,809.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick Alias sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $87.19, for a total transaction of $1,525,825.00. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

Shares of NASDAQ:CGNX opened at $90.95 on Friday. The firm’s 50 day moving average is $86.32 and its two-hundred day moving average is $82.83. Cognex Co. has a 52 week low of $58.82 and a 52 week high of $101.82. The firm has a market capitalization of $16.07 billion, a P/E ratio of 53.50 and a beta of 1.65.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings results on Thursday, August 5th. The scientific and technical instruments company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. Cognex had a net margin of 30.96% and a return on equity of 21.92%. The company had revenue of $269.16 million for the quarter, compared to analyst estimates of $263.11 million. Sell-side analysts anticipate that Cognex Co. will post 1.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 3rd. Shareholders of record on Friday, August 20th were paid a $0.06 dividend. The ex-dividend date was Thursday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. Cognex’s payout ratio is currently 24.00%.

Cognex Profile

Cognex Corp. engages in the provision of machine vision products that capture and analyze visual information in order to automate tasks in processes, where vision is required. The company was founded by Robert J. Shillman, William Silver and Marilyn Matz in 1981 and is headquartered in Natick, MA.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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