Candriam Luxembourg S.C.A. Lowers Holdings in Cognex Co. (NASDAQ:CGNX)

Candriam Luxembourg S.C.A. reduced its stake in shares of Cognex Co. (NASDAQ:CGNX) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,611 shares of the scientific and technical instruments company’s stock after selling 2,072 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Cognex were worth $333,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. First Trust Advisors LP raised its stake in shares of Cognex by 65.6% in the third quarter. First Trust Advisors LP now owns 8,574 shares of the scientific and technical instruments company’s stock worth $479,000 after purchasing an additional 3,398 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Cognex by 303.0% in the third quarter. Alliancebernstein L.P. now owns 458,256 shares of the scientific and technical instruments company’s stock worth $25,580,000 after purchasing an additional 344,556 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cognex by 3.3% in the third quarter. Bank of New York Mellon Corp now owns 8,529,267 shares of the scientific and technical instruments company’s stock worth $476,104,000 after purchasing an additional 268,565 shares during the last quarter. BlackRock Inc. raised its stake in shares of Cognex by 0.4% in the third quarter. BlackRock Inc. now owns 17,842,060 shares of the scientific and technical instruments company’s stock worth $995,944,000 after purchasing an additional 72,784 shares during the last quarter. Finally, Blue Fin Capital Inc. raised its stake in shares of Cognex by 64.4% in the third quarter. Blue Fin Capital Inc. now owns 8,500 shares of the scientific and technical instruments company’s stock worth $474,000 after purchasing an additional 3,330 shares during the last quarter. Hedge funds and other institutional investors own 95.50% of the company’s stock.

In other news, Director Theodor Krantz sold 30,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $53.18, for a total value of $1,595,400.00. Following the completion of the transaction, the director now directly owns 52,500 shares of the company’s stock, valued at $2,791,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by company insiders.

NASDAQ CGNX traded up $0.48 on Friday, hitting $56.50. 933,209 shares of the stock traded hands, compared to its average volume of 963,072. Cognex Co. has a 12 month low of $34.88 and a 12 month high of $59.18. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 45.56, a price-to-earnings-growth ratio of 2.99 and a beta of 1.99.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Thursday, February 14th. The scientific and technical instruments company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Cognex had a return on equity of 19.75% and a net margin of 27.19%. The business had revenue of $193.29 million during the quarter, compared to analyst estimates of $184.82 million. During the same period in the prior year, the company earned ($0.16) earnings per share. Cognex’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Cognex Co. will post 1.26 earnings per share for the current fiscal year.

A number of analysts recently commented on CGNX shares. ValuEngine raised Cognex from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Zacks Investment Research downgraded Cognex from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. BidaskClub raised Cognex from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Gordon Haskett started coverage on Cognex in a research report on Wednesday. They set a “hold” rating and a $54.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target (up from $47.00) on shares of Cognex in a research report on Tuesday, February 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $50.10.

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Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture 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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