Janus Henderson Group PLC Raises Stock Holdings in Cognex Corporation $CGNX

Key Points

• Janus Henderson increased its Cognex stake by 81% in the first quarter, adding 1.19 million shares to own 2.66 million shares worth approximately $130.3 million. Institutional investors collectively hold 88.12% of Cognex.
• Cognex insiders sold 224,847 shares worth nearly $15 million over the past 90 days, including substantial reductions by Vice President Laura Ann Macdonald and insider Mark Fennell.
• The company reported better-than-expected quarterly results, with EPS of $0.34 versus the $0.25 consensus and revenue up 24.3% year over year to $268.44 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $72.31.

Janus Henderson Group PLC increased its holdings in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 81.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,660,411 shares of the scientific and technical instruments company's stock after acquiring an additional 1,190,434 shares during the period. Janus Henderson Group PLC owned about 1.60% of Cognex worth $130,320,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its stake in Cognex by 402.2% in the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company's stock worth $27,000 after purchasing an additional 736 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Cognex by 74.8% during the third quarter. CIBC Private Wealth Group LLC now owns 764 shares of the scientific and technical instruments company's stock valued at $35,000 after purchasing an additional 327 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of Cognex in the first quarter worth about $36,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Cognex in the fourth quarter worth about $39,000. Finally, Larson Financial Group LLC increased its stake in Cognex by 202.7% in the 4th quarter. Larson Financial Group LLC now owns 1,105 shares of the scientific and technical instruments company's stock worth $40,000 after buying an additional 740 shares during the period. Institutional investors own 88.12% of the company's stock.

Insider Buying and Selling

In related news, VP Laura Ann Macdonald sold 98,122 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $66.80, for a total value of $6,554,549.60. Following the completion of the transaction, the vice president owned 5,258 shares of the company's stock, valued at $351,234.40. The trade was a 94.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Fennell sold 64,873 shares of the company's stock in a transaction on Monday, May 11th. The stock was 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 of the company's stock, valued at approximately $755,184.15. This represents a 85.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 224,847 shares of company stock valued at $14,975,098 over the last 90 days. Corporate insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup reiterated a "neutral" rating and set a $72.00 price objective (up from $68.00) on shares of Cognex in a report on Monday, July 13th. The Goldman Sachs Group reaffirmed 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cognex in a research note on Friday, May 15th. Needham & Company LLC boosted their price target on Cognex from $67.00 to $75.00 and gave the company a "buy" rating in a report on Friday, May 8th. Finally, Truist Financial increased their price objective on Cognex from $61.00 to $71.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Cognex currently has a consensus rating of "Moderate Buy" and an average target price of $72.31.

Cognex Price Performance

NASDAQ:CGNX opened at $65.24 on Friday. Cognex Corporation has a 1-year low of $34.60 and a 1-year high of $72.88. The company has a 50-day moving average of $64.79 and a 200 day moving average of $56.15. The firm has a market cap of $10.86 billion, a PE ratio of 77.67 and a beta of 1.49.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.09. Cognex had a net margin of 13.62% and a return on equity of 10.89%. The company had revenue of $268.44 million for the quarter, compared to analysts' expectations of $245.98 million. During the same period in the prior year, the business earned $0.14 EPS. The firm's quarterly revenue was up 24.3% on a year-over-year basis. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. Sell-side analysts anticipate that Cognex Corporation will post 1.48 EPS for the current fiscal year.

Cognex Dividend Announcement

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

About Cognex

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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