Cognex Co. (NASDAQ:CGNX) Shares Acquired by Riverbridge Partners LLC

Riverbridge Partners LLC increased its stake in Cognex Co. (NASDAQ:CGNXGet Rating) by 0.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 569,824 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,850 shares during the quarter. Riverbridge Partners LLC’s holdings in Cognex were worth $24,229,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Artemis Investment Management LLP grew its stake in shares of Cognex by 15.6% in the first quarter. Artemis Investment Management LLP now owns 376,417 shares of the scientific and technical instruments company’s stock valued at $28,989,000 after buying an additional 50,781 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Cognex by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 984,006 shares of the scientific and technical instruments company’s stock valued at $76,516,000 after buying an additional 26,799 shares in the last quarter. Swiss National Bank grew its stake in shares of Cognex by 14.0% in the first quarter. Swiss National Bank now owns 765,780 shares of the scientific and technical instruments company’s stock valued at $59,080,000 after buying an additional 94,200 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Cognex in the first quarter valued at about $254,000. Finally, Bank of Montreal Can grew its stake in shares of Cognex by 4.6% in the first quarter. Bank of Montreal Can now owns 166,465 shares of the scientific and technical instruments company’s stock valued at $13,007,000 after buying an additional 7,332 shares in the last quarter. Institutional investors and hedge funds own 90.15% of the company’s stock.

Cognex Trading Up 0.9 %

Shares of NASDAQ CGNX opened at $42.30 on Monday. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 28.97 and a beta of 1.70. Cognex Co. has a 12-month low of $40.55 and a 12-month high of $92.17. The stock’s 50 day simple moving average is $45.84 and its 200 day simple moving average is $54.10.

Cognex (NASDAQ:CGNXGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The scientific and technical instruments company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.05. Cognex had a return on equity of 19.19% and a net margin of 23.82%. During the same period in the prior year, the business posted $0.43 EPS. As a group, equities analysts forecast that Cognex Co. will post 0.9 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 0.61%. The ex-dividend date was Thursday, August 18th. Cognex’s payout ratio is currently 17.81%.

Analyst Upgrades and Downgrades

CGNX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered Cognex from a “neutral” rating to an “underweight” rating and set a $40.00 price objective for the company. in a research note on Friday, August 12th. TheStreet lowered Cognex from a “b-” rating to a “c+” rating in a research note on Tuesday, May 24th. Needham & Company LLC lowered their price objective on Cognex from $80.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, August 1st. The Goldman Sachs Group lowered their price objective on Cognex from $59.00 to $41.00 and set a “sell” rating for the company in a research note on Thursday, June 23rd. Finally, Cowen lowered their price objective on Cognex from $75.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.42.

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.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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