Westpac Banking Corp cut its position in Cognex Co. (NASDAQ:CGNX – Free Report) by 35.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,712 shares of the scientific and technical instruments company’s stock after selling 7,086 shares during the quarter. Westpac Banking Corp’s holdings in Cognex were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in CGNX. Vanguard Group Inc. boosted its stake in Cognex by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 15,895,177 shares of the scientific and technical instruments company’s stock valued at $658,855,000 after acquiring an additional 180,188 shares during the last quarter. State Street Corp boosted its stake in Cognex by 0.8% during the 1st quarter. State Street Corp now owns 5,778,896 shares of the scientific and technical instruments company’s stock valued at $445,842,000 after acquiring an additional 45,764 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Cognex by 3.0% during the 4th quarter. Alliancebernstein L.P. now owns 5,294,480 shares of the scientific and technical instruments company’s stock valued at $249,423,000 after acquiring an additional 151,776 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Cognex by 12.1% during the 4th quarter. Lazard Asset Management LLC now owns 4,891,408 shares of the scientific and technical instruments company’s stock valued at $230,434,000 after acquiring an additional 526,196 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Cognex by 0.8% during the 4th quarter. American Century Companies Inc. now owns 3,802,383 shares of the scientific and technical instruments company’s stock valued at $179,130,000 after acquiring an additional 29,600 shares during the last quarter. 89.97% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Credit Suisse Group increased their price objective on shares of Cognex from $46.00 to $47.00 in a research note on Thursday, July 13th. UBS Group raised their price target on shares of Cognex from $48.00 to $52.00 in a research report on Friday, May 5th. TheStreet downgraded shares of Cognex from a “b-” rating to a “c” rating in a research report on Friday, May 5th. CL King started coverage on shares of Cognex in a research report on Friday, June 23rd. They issued a “neutral” rating on the stock. Finally, StockNews.com started coverage on shares of Cognex in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.27.
Cognex Stock Down 1.8 %
CGNX stock opened at $51.02 on Thursday. Cognex Co. has a fifty-two week low of $40.21 and a fifty-two week high of $59.51. The firm’s 50-day simple moving average is $55.36 and its 200 day simple moving average is $51.91. The stock has a market cap of $8.81 billion, a PE ratio of 51.02 and a beta of 1.54.
Cognex (NASDAQ:CGNX – Get Free Report) last released its earnings results on Thursday, May 4th. The scientific and technical instruments company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The firm had revenue of $201.12 million for the quarter, compared to analysts’ expectations of $193.40 million. Cognex had a net margin of 18.79% and a return on equity of 11.59%. Equities analysts forecast that Cognex Co. will post 0.68 EPS for the current fiscal year.
Cognex Profile
Cognex Corporation provides machine vision products that capture and analyze visual information 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, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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