Bradley Foster & Sargent Inc. CT Has $10.89 Million Holdings in Cognex Corporation $CGNX

Key Points

• Bradley Foster & Sargent Inc. CT cut its Cognex stake by 24% in the first quarter, selling 70,196 shares and ending with 222,395 shares valued at about $10.9 million.
• Wall Street sentiment remains generally positive on Cognex, with an average analyst rating of “Moderate Buy” and an average price target of $72.31.
• Insider selling has been notable, including two vice presidents who sold large blocks of stock, while Cognex also reported strong quarterly results with EPS and revenue both beating estimates.

Bradley Foster & Sargent Inc. CT decreased its holdings in Cognex Corporation (NASDAQ:CGNX - Free Report) by 24.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 222,395 shares of the scientific and technical instruments company's stock after selling 70,196 shares during the quarter. Bradley Foster & Sargent Inc. CT owned approximately 0.13% of Cognex worth $10,895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Waverly Advisors LLC acquired a new position in Cognex during the 1st quarter worth about $262,000. Wealth Alliance LLC acquired a new stake in shares of Cognex in the first quarter valued at about $217,000. Renaissance Technologies LLC raised its position in shares of Cognex by 4.0% during the first quarter. Renaissance Technologies LLC now owns 868,058 shares of the scientific and technical instruments company's stock worth $42,526,000 after acquiring an additional 33,000 shares during the last quarter. Aristides Capital LLC acquired a new position in shares of Cognex in the first quarter worth approximately $207,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Cognex by 115.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,033,091 shares of the scientific and technical instruments company's stock valued at $99,601,000 after acquiring an additional 1,090,092 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Seaport Research Partners set a $75.00 price target on shares of Cognex in a report on Tuesday, May 26th. Barclays reissued an "overweight" rating and set a $75.00 target price (up from $64.00) on shares of Cognex in a research note on Monday, May 11th. Weiss Ratings restated a "hold (c)" rating on shares of Cognex in a report on Friday, May 15th. Stephens upped their price target on shares of Cognex from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Finally, DA Davidson set a $62.00 price target on Cognex and gave the stock a "neutral" rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $72.31.

Insider Activity

In related news, VP Laura Ann Macdonald sold 98,122 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $66.80, for a total value of $6,554,549.60. Following the completion of the sale, the vice president directly owned 5,258 shares of the company's stock, valued at $351,234.40. The trade was a 94.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Darren Marc Long sold 20,252 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $66.34, for a total value of $1,343,517.68. Following the completion of the sale, the vice president directly owned 3,990 shares of the company's stock, valued at $264,696.60. The trade was a 83.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 224,847 shares of company stock worth $14,975,098. Company insiders own 1.70% of the company's stock.

Cognex Stock Down 2.2%

Shares of CGNX stock opened at $62.05 on Friday. The firm has a 50 day moving average of $64.97 and a 200-day moving average of $55.34. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 73.87 and a beta of 1.49. Cognex Corporation has a 52 week low of $33.45 and a 52 week high of $72.88.

Cognex (NASDAQ:CGNX - Get Free Report) last released its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. The company had revenue of $268.44 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. Analysts anticipate that Cognex Corporation will post 1.48 earnings per share for the current year.

Cognex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.085 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.34 annualized dividend and a dividend yield of 0.5%. Cognex's dividend payout ratio is currently 40.48%.

Cognex 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.