Anthony Sun Sells 10,000 Shares of Cognex Co. (CGNX) Stock

Cognex Co. (NASDAQ:CGNX) Director Anthony Sun sold 10,000 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $56.49, for a total transaction of $564,900.00. Following the sale, the director now directly owns 294,262 shares in the company, valued at approximately $16,622,860.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cognex Co. (CGNX) traded down $0.77 during mid-day trading on Tuesday, hitting $55.54. 546,546 shares of the company were exchanged, compared to its average volume of 2,026,900. Cognex Co. has a 12-month low of $38.67 and a 12-month high of $72.99. The stock has a market capitalization of $9,830.00, a price-to-earnings ratio of 56.67 and a beta of 1.54.

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Cognex (NASDAQ:CGNX) last released its earnings results on Thursday, February 15th. The scientific and technical instruments company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.05. Cognex had a net margin of 23.69% and a return on equity of 24.23%. The firm had revenue of $180.37 million for the quarter, compared to analyst estimates of $178.75 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. equities analysts predict that Cognex Co. will post 1.4 earnings per share for the current year.

Cognex announced that its board has authorized a share buyback program on Thursday, February 15th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be paid a dividend of $0.045 per share. The ex-dividend date is Thursday, March 1st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.32%. Cognex’s payout ratio is 18.37%.

CGNX has been the topic of several research reports. Zacks Investment Research cut shares of Cognex from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, January 2nd. Deutsche Bank set a $80.00 target price on shares of Cognex and gave the stock a “buy” rating in a research note on Friday, January 19th. ValuEngine lowered shares of Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Finally, BidaskClub lowered shares of Cognex from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $66.83.

Several hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA increased its stake in Cognex by 100.0% in the fourth quarter. Glenmede Trust Co. NA now owns 1,830 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 915 shares during the last quarter. Parallel Advisors LLC increased its stake in Cognex by 100.1% in the fourth quarter. Parallel Advisors LLC now owns 1,883 shares of the scientific and technical instruments company’s stock valued at $115,000 after purchasing an additional 942 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in Cognex by 76.9% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $125,000 after purchasing an additional 963 shares during the last quarter. Cerebellum GP LLC purchased a new position in Cognex in the fourth quarter valued at approximately $126,000. Finally, Strs Ohio purchased a new position in Cognex in the fourth quarter valued at approximately $133,000. Hedge funds and other institutional investors own 81.97% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Cognex (NASDAQ:CGNX)

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