Bluestein R H & Co. Purchases Shares of 4,500 Cognex Co. (CGNX)

Bluestein R H & Co. purchased a new stake in Cognex Co. (NASDAQ:CGNX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,500 shares of the scientific and technical instruments company’s stock, valued at approximately $496,000.

A number of other large investors also recently added to or reduced their stakes in CGNX. BlackRock Inc. boosted its holdings in shares of Cognex by 3.5% during the 2nd quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock valued at $584,711,000 after buying an additional 231,014 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cognex by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,734,216 shares of the scientific and technical instruments company’s stock valued at $571,735,000 after buying an additional 159,355 shares in the last quarter. Harding Loevner LP boosted its holdings in shares of Cognex by 50.1% during the 3rd quarter. Harding Loevner LP now owns 2,835,891 shares of the scientific and technical instruments company’s stock valued at $135,890,000 after buying an additional 947,119 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Cognex by 126.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,342,312 shares of the scientific and technical instruments company’s stock valued at $198,864,000 after buying an additional 1,309,047 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Cognex by 2.2% during the 2nd quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock valued at $184,153,000 after buying an additional 45,840 shares in the last quarter. Institutional investors and hedge funds own 84.25% of the company’s stock.

In other news, Director Jeffrey Benjamin Miller sold 7,500 shares of Cognex stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $124.23, for a total value of $931,725.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick Alias sold 5,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $143.54, for a total value of $717,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,750 shares of company stock valued at $19,097,525. 5.60% of the stock is owned by insiders.

Cognex Co. (NASDAQ:CGNX) opened at $62.89 on Wednesday. The stock has a market capitalization of $10,963.60, a PE ratio of 46.72 and a beta of 1.50. Cognex Co. has a 52-week low of $29.04 and a 52-week high of $72.99.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05. The firm had revenue of $259.74 million during the quarter, compared to analyst estimates of $255.95 million. Cognex had a return on equity of 23.31% and a net margin of 34.77%. Cognex’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. analysts predict that Cognex Co. will post 1.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Thursday, November 16th. Cognex’s dividend payout ratio is presently 13.28%.

A number of brokerages have recently commented on CGNX. Cowen restated an “outperform” rating and set a $67.50 target price (up previously from $50.00) on shares of Cognex in a report on Tuesday, August 8th. Robert W. Baird boosted their target price on shares of Cognex from $50.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Zacks Investment Research upgraded shares of Cognex from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Wednesday, November 1st. Wolfe Research upgraded shares of Cognex from a “market perform” rating to an “outperform” rating in a report on Monday, August 14th. Finally, Canaccord Genuity boosted their target price on shares of Cognex from $47.50 to $60.00 and gave the company a “hold” rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Cognex has an average rating of “Buy” and a consensus target price of $56.86.

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Cognex 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 operates through the machine vision technology segment. 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.

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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