abrdn plc Increases Position in Cognex Co. (NASDAQ:CGNX)

abrdn plc grew its holdings in shares of Cognex Co. (NASDAQ:CGNXGet Rating) by 12.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,884 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,700 shares during the period. abrdn plc’s holdings in Cognex were worth $1,149,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its position in Cognex by 1.5% during the 4th quarter. BlackRock Inc. now owns 19,214,328 shares of the scientific and technical instruments company’s stock valued at $1,494,108,000 after purchasing an additional 288,272 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Cognex by 11.7% during the fourth quarter. Alliancebernstein L.P. now owns 5,931,739 shares of the scientific and technical instruments company’s stock valued at $461,252,000 after buying an additional 619,196 shares during the last quarter. State Street Corp increased its position in shares of Cognex by 2.5% during the fourth quarter. State Street Corp now owns 5,733,132 shares of the scientific and technical instruments company’s stock valued at $445,808,000 after acquiring an additional 141,965 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cognex by 16.4% in the 4th quarter. Geode Capital Management LLC now owns 2,621,724 shares of the scientific and technical instruments company’s stock worth $203,596,000 after acquiring an additional 369,689 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Cognex by 0.5% in the 4th quarter. Eagle Asset Management Inc. now owns 2,433,145 shares of the scientific and technical instruments company’s stock valued at $189,517,000 after acquiring an additional 13,159 shares in the last quarter. 88.85% of the stock is owned by institutional investors.

Cognex Stock Performance

Shares of CGNX stock opened at $49.72 on Wednesday. The stock has a fifty day simple moving average of $46.02 and a two-hundred day simple moving average of $58.95. The firm has a market capitalization of $8.64 billion, a PE ratio of 32.08 and a beta of 1.66. Cognex Co. has a 52-week low of $41.69 and a 52-week high of $92.17.

Cognex (NASDAQ:CGNXGet Rating) last issued its earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.08. Cognex had a return on equity of 19.48% and a net margin of 25.67%. The company had revenue of $282.40 million for the quarter, compared to the consensus estimate of $277.23 million. During the same quarter last year, the company earned $0.39 EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts forecast that Cognex Co. will post 1.52 EPS for the current fiscal year.

Cognex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Friday, May 20th were paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, May 19th. Cognex’s payout ratio is currently 16.77%.

Wall Street Analysts Forecast Growth

CGNX has been the subject of several recent analyst reports. Cowen decreased their price target on Cognex from $95.00 to $75.00 in a research note on Tuesday, May 10th. TheStreet cut Cognex from a “b-” rating to a “c+” rating in a report on Tuesday, May 24th. Needham & Company LLC cut their price objective on Cognex from $80.00 to $60.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley lowered their target price on Cognex from $68.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 31st. Finally, Cowen reduced their price target on shares of Cognex from $95.00 to $75.00 in a research report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.00.

Insider Activity

In other Cognex news, Director Dianne M. Parrotte bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average cost of $46.00 per share, with a total value of $138,000.00. Following the completion of the acquisition, the director now owns 3,608 shares in the company, valued at approximately $165,968. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.10% of the company’s stock.

Cognex Profile

(Get Rating)

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing 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.

Recommended Stories

Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Co. (NASDAQ:CGNXGet Rating).

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.