Lisanti Capital Growth LLC Takes Position in Cognex Corporation $CGNX

Key Points

• Lisanti Capital Growth acquired 23,085 Cognex shares worth approximately $1.67 million, while institutional investors collectively own 88.12% of the company.
• Analyst sentiment remains positive overall, with Cognex carrying a “Moderate Buy” consensus rating and an average price target of $75.64, despite recent downgrades to “Hold.”
• Cognex exceeded quarterly earnings expectations with $0.45 EPS and reported 16.9% year-over-year revenue growth; it also declared a quarterly dividend of $0.085, equal to a 0.6% annualized yield.

Lisanti Capital Growth LLC bought a new stake in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 23,085 shares of the scientific and technical instruments company's stock, valued at approximately $1,672,000.

Several other institutional investors and hedge funds have also bought and sold shares of CGNX. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Cognex in the second quarter valued at $26,000. Geneos Wealth Management Inc. boosted its position in shares of Cognex by 402.2% during the 1st 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 in the last quarter. Elevation Wealth Partners LLC boosted its position in shares of Cognex by 635.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 478 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 413 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Cognex by 74.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 764 shares of the scientific and technical instruments company's stock valued at $35,000 after buying an additional 327 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Cognex in the 1st quarter valued at about $36,000. 88.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CGNX. JPMorgan Chase & Co. raised Cognex from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $65.00 to $75.00 in a research note on Tuesday, May 26th. Citigroup reissued a "neutral" rating and issued a $74.00 price objective (up from $72.00) on shares of Cognex in a research note on Friday, August 7th. HSBC downgraded Cognex from a "buy" rating to a "hold" rating and set a $65.00 price objective for the company. in a report on Monday, August 10th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $91.00 target price on shares of Cognex in a research report on Friday, August 7th. Finally, Wall Street Zen cut Cognex from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $75.64.

Insider Buying and Selling at Cognex

In other news, VP Darren Marc Long sold 20,252 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $66.34, for a total value of $1,343,517.68. Following the transaction, the vice president owned 3,990 shares in the company, valued at $264,696.60. This trade represents a 83.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Cognex Price Performance

NASDAQ:CGNX opened at $60.64 on Thursday. The firm has a 50-day moving average of $65.03 and a 200-day moving average of $58.59. The company has a market cap of $10.20 billion, a PE ratio of 58.87 and a beta of 1.49. Cognex Corporation has a one year low of $34.60 and a one year high of $72.88.

Cognex (NASDAQ:CGNX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The business had revenue of $291.26 million for the quarter, compared to analysts' expectations of $292.10 million. Cognex had a net margin of 16.05% and a return on equity of 13.50%. The firm's revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. Cognex has set its FY 2026 guidance at 1.640-1.680 EPS and its Q3 2026 guidance at 0.500-0.540 EPS. On average, equities research analysts expect that Cognex Corporation will post 1.68 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 20th. Cognex's dividend payout ratio (DPR) is currently 33.01%.

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.

Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Corporation (NASDAQ:CGNX - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source