Perigon Wealth Management LLC lifted its position in Cognex Co. (NASDAQ:CGNX) by 12.3% in the first quarter, Holdings Channel reports. The firm owned 5,464 shares of the scientific and technical instruments company’s stock after buying an additional 599 shares during the period. Perigon Wealth Management LLC’s holdings in Cognex were worth $453,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Xponance Inc. boosted its holdings in shares of Cognex by 0.4% in the first quarter. Xponance Inc. now owns 35,805 shares of the scientific and technical instruments company’s stock valued at $2,971,000 after purchasing an additional 146 shares during the period. Parsons Capital Management Inc. RI boosted its holdings in shares of Cognex by 4.3% in the first quarter. Parsons Capital Management Inc. RI now owns 3,567 shares of the scientific and technical instruments company’s stock valued at $296,000 after purchasing an additional 147 shares during the period. AdvisorNet Financial Inc grew its holdings in Cognex by 17.1% during the 1st quarter. AdvisorNet Financial Inc now owns 1,028 shares of the scientific and technical instruments company’s stock worth $85,000 after acquiring an additional 150 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Cognex by 3.2% during the 1st quarter. CIBC Asset Management Inc now owns 6,848 shares of the scientific and technical instruments company’s stock worth $568,000 after acquiring an additional 211 shares in the last quarter. Finally, FDx Advisors Inc. grew its holdings in Cognex by 2.2% during the 1st quarter. FDx Advisors Inc. now owns 10,515 shares of the scientific and technical instruments company’s stock worth $873,000 after acquiring an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.
CGNX has been the topic of several recent research reports. Zacks Investment Research cut shares of Cognex from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 7th. Raymond James upgraded shares of Cognex from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $100.00 to $120.00 in a report on Wednesday, May 19th. Finally, Morgan Stanley upped their price objective on Cognex from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Friday, May 7th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $82.57.
Shares of Cognex stock opened at $84.60 on Thursday. The stock has a 50 day moving average price of $80.49. Cognex Co. has a 52-week low of $58.82 and a 52-week high of $101.82. The stock has a market cap of $14.94 billion, a P/E ratio of 67.14 and a beta of 1.64.
Cognex (NASDAQ:CGNX) last announced its earnings results on Thursday, May 6th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.04. Cognex had a return on equity of 16.40% and a net margin of 25.55%. The company had revenue of $239.03 million for the quarter, compared to analyst estimates of $239.33 million. During the same period in the prior year, the company posted $0.11 EPS. The firm’s quarterly revenue was up 43.0% compared to the same quarter last year. As a group, analysts predict that Cognex Co. will post 1.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 4th. Investors of record on Friday, May 21st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.28%. The ex-dividend date was Thursday, May 20th. Cognex’s dividend payout ratio is currently 24.00%.
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.
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