Wesbanco Bank Inc. grew its holdings in shares of Cognex Corporation (NASDAQ:CGNX – Free Report) by 40.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,700 shares of the scientific and technical instruments company’s stock after acquiring an additional 7,700 shares during the period. Wesbanco Bank Inc.’s holdings in Cognex were worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC raised its position in shares of Cognex by 124.5% during the 4th quarter. Intech Investment Management LLC now owns 98,451 shares of the scientific and technical instruments company’s stock valued at $3,542,000 after purchasing an additional 54,600 shares during the period. Nordea Investment Management AB raised its holdings in Cognex by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 8,101,583 shares of the scientific and technical instruments company’s stock valued at $292,224,000 after acquiring an additional 76,212 shares during the period. One Capital Management LLC bought a new stake in Cognex during the fourth quarter valued at about $1,945,000. DAVENPORT & Co LLC lifted its position in shares of Cognex by 19.1% in the fourth quarter. DAVENPORT & Co LLC now owns 477,658 shares of the scientific and technical instruments company’s stock valued at $17,186,000 after acquiring an additional 76,540 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Cognex by 76.3% in the fourth quarter. Handelsbanken Fonder AB now owns 758,831 shares of the scientific and technical instruments company’s stock valued at $27,303,000 after acquiring an additional 328,427 shares in the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on CGNX shares. The Goldman Sachs Group reiterated a “buy” rating and set a $80.00 target price (up from $70.00) on shares of Cognex in a research report on Monday, May 11th. JPMorgan Chase & Co. raised shares of Cognex from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $65.00 to $75.00 in a report on Tuesday, May 26th. Seaport Research Partners set a $75.00 price objective on shares of Cognex in a research report on Tuesday, May 26th. Truist Financial set a $61.00 target price on shares of Cognex and gave the stock a “hold” rating in a report on Friday, May 8th. Finally, Citigroup reaffirmed a “neutral” rating and set a $68.00 target price (up from $60.00) on shares of Cognex in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.43.
Cognex Stock Performance
CGNX stock opened at $66.56 on Friday. The firm has a fifty day moving average price of $62.32 and a 200 day moving average price of $51.28. Cognex Corporation has a fifty-two week low of $31.19 and a fifty-two week high of $71.90. The firm has a market cap of $11.08 billion, a PE ratio of 79.24 and a beta of 1.52.
Cognex (NASDAQ:CGNX – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.09. The company had revenue of $268.44 million for the quarter, compared to analysts’ expectations of $245.98 million. Cognex had a net margin of 13.62% and a return on equity of 10.89%. Cognex’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 earnings per share. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. On average, equities analysts predict that Cognex Corporation will post 1.49 EPS for the current year.
Cognex Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.085 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.5%. Cognex’s payout ratio is 40.48%.
Insider Activity
In other Cognex news, VP Laura Ann Macdonald sold 41,600 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $65.56, for a total transaction of $2,727,296.00. Following the sale, the vice president directly owned 5,258 shares of the company’s stock, valued at $344,714.48. The trade was a 88.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Fennell sold 64,873 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $67.05, for a total value of $4,349,734.65. Following the sale, the insider owned 11,263 shares in the company, valued at approximately $755,184.15. This trade represents a 85.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 224,847 shares of company stock worth $14,975,098. 1.70% of the stock is currently owned by corporate insiders.
Cognex Company Profile
Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.
The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.
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