Richard Morin Sells 20,000 Shares of Cognex Corp. (CGNX) Stock
Cognex Corp. (NASDAQ:CGNX) CFO Richard Morin sold 20,000 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $55.44, for a total value of $1,108,800.00. Following the sale, the chief financial officer now directly owns 14,598 shares of the company’s stock, valued at $809,313.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Richard Morin also recently made the following trade(s):
- On Friday, August 26th, Richard Morin sold 14,040 shares of Cognex Corp. stock. The shares were sold at an average price of $50.21, for a total value of $704,948.40.
- On Tuesday, August 23rd, Richard Morin sold 4,260 shares of Cognex Corp. stock. The shares were sold at an average price of $50.21, for a total value of $213,894.60.
- On Friday, August 19th, Richard Morin sold 1,100 shares of Cognex Corp. stock. The shares were sold at an average price of $50.35, for a total value of $55,385.00.
Cognex Corp. (NASDAQ:CGNX) opened at 58.48 on Wednesday. The firm has a 50-day moving average price of $52.80 and a 200 day moving average price of $47.13. Cognex Corp. has a 12 month low of $28.01 and a 12 month high of $58.83. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 38.86 and a beta of 1.32.
Cognex Corp. (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 31st. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.13. Cognex Corp. had a return on equity of 13.67% and a net margin of 26.59%. The business earned $147.95 million during the quarter, compared to analysts’ expectations of $50.93 million. During the same period in the previous year, the firm earned $1.19 earnings per share. The firm’s quarterly revenue was up 37.5% compared to the same quarter last year. On average, equities analysts forecast that Cognex Corp. will post $1.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.51%. Cognex Corp.’s dividend payout ratio (DPR) is presently 20.13%.
Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its stake in shares of Cognex Corp. by 90.7% in the third quarter. Ameritas Investment Partners Inc. now owns 25,648 shares of the company’s stock worth $1,356,000 after buying an additional 12,200 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Cognex Corp. by 11.9% in the third quarter. Mackenzie Financial Corp now owns 31,216 shares of the company’s stock worth $1,650,000 after buying an additional 3,309 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of Cognex Corp. during the third quarter worth approximately $14,361,000. Jane Street Group LLC bought a new stake in shares of Cognex Corp. during the third quarter worth approximately $500,000. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Cognex Corp. by 234.9% in the third quarter. D. E. Shaw & Co. Inc. now owns 93,844 shares of the company’s stock worth $4,960,000 after buying an additional 65,819 shares during the period. 91.77% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. Canaccord Genuity upped their target price on Cognex Corp. from $45.00 to $49.00 and gave the company a “hold” rating in a report on Tuesday, August 2nd. Credit Agricole SA raised Cognex Corp. from an “underperform” rating to an “outperform” rating in a research note on Monday, November 7th. Zacks Investment Research raised Cognex Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, November 2nd. Stephens began coverage on Cognex Corp. in a research note on Tuesday, October 25th. They issued an “equal weight” rating and a $50.00 price objective for the company. Finally, Needham & Company LLC increased their price objective on Cognex Corp. from $55.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, November 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $49.11.
Cognex Corp. 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’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.
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