Oppenheimer & Co. Inc. Sells 15,972 Shares of Cognex Corporation $CGNX

Oppenheimer & Co. Inc. cut its stake in Cognex Corporation (NASDAQ:CGNX) by 54.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,257 shares of the scientific and technical instruments company’s stock after selling 15,972 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cognex were worth $804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CGNX. Park Avenue Securities LLC increased its stake in shares of Cognex by 4.4% during the third quarter. Park Avenue Securities LLC now owns 9,862 shares of the scientific and technical instruments company’s stock valued at $598,000 after acquiring an additional 414 shares during the period. Verdence Capital Advisors LLC bought a new stake in shares of Cognex in the 3rd quarter worth approximately $221,000. Peterson Wealth Services lifted its stake in Cognex by 25.0% during the third quarter. Peterson Wealth Services now owns 6,355 shares of the scientific and technical instruments company’s stock valued at $385,000 after purchasing an additional 1,269 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Cognex by 10.1% during the third quarter. Apollon Wealth Management LLC now owns 3,510 shares of the scientific and technical instruments company’s stock worth $213,000 after buying an additional 323 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Cognex in the third quarter valued at $790,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Cognex Price Performance

Cognex stock opened at $58.11 on Wednesday. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 46.24 and a beta of 1.49. The firm has a fifty day moving average price of $59.78 and a two-hundred day moving average price of $57.90. Cognex Corporation has a fifty-two week low of $34.60 and a fifty-two week high of $72.88.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $291.26 million for the quarter, compared to analyst estimates of $292.10 million. Cognex had a return on equity of 13.50% and a net margin of 16.05%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. As a group, sell-side analysts expect that Cognex Corporation will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

CGNX has been the topic of a number of recent research reports. Robert W. Baird decreased their target price on Cognex from $78.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, September 23rd. HSBC lowered shares of Cognex from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a report on Monday, August 10th. Zacks Research downgraded Cognex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Barclays raised their price objective on Cognex from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Finally, Cantor Fitzgerald increased their price target on shares of Cognex from $76.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.57.

Cognex Profile

Cognex Corporation develops machine vision and industrial identification technologies that help manufacturers and businesses automate inspection, measurement, guidance, and tracking processes. Its systems use cameras, sensors, software, and artificial intelligence to analyze images and identify products, defects, components, and other objects.

The company’s product portfolio includes vision systems, industrial cameras, vision sensors, barcode readers, optical character recognition tools, three-dimensional vision systems, and machine vision software.