Wealth Enhancement Advisory Services LLC Buys 10,458 Shares of Cognex Co. (NASDAQ:CGNX)

Wealth Enhancement Advisory Services LLC grew its position in Cognex Co. (NASDAQ:CGNX - Free Report) by 56.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,844 shares of the scientific and technical instruments company's stock after acquiring an additional 10,458 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Cognex were worth $1,034,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CGNX. Centaurus Financial Inc. raised its position in Cognex by 16.0% in the fourth quarter. Centaurus Financial Inc. now owns 3,267 shares of the scientific and technical instruments company's stock valued at $117,000 after purchasing an additional 450 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Cognex by 9.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,038,345 shares of the scientific and technical instruments company's stock valued at $73,095,000 after buying an additional 177,324 shares during the period. Forum Financial Management LP bought a new position in Cognex in the 4th quarter valued at approximately $210,000. Pinney & Scofield Inc. acquired a new stake in Cognex during the 4th quarter worth approximately $124,000. Finally, Neo Ivy Capital Management bought a new stake in Cognex during the 4th quarter worth approximately $1,914,000. Institutional investors and hedge funds own 88.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CGNX. DA Davidson lowered their target price on Cognex from $35.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating in a research report on Monday, April 28th. Needham & Company LLC reduced their price objective on shares of Cognex from $41.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. HSBC downgraded shares of Cognex from a "buy" rating to a "hold" rating and set a $33.00 target price for the company. in a research note on Friday, February 21st. Finally, Truist Financial cut their price target on shares of Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $39.17.

Cognex Trading Up 0.1%

Shares of CGNX stock opened at $30.28 on Monday. Cognex Co. has a 12 month low of $22.67 and a 12 month high of $53.13. The firm has a market capitalization of $5.08 billion, a PE ratio of 49.64 and a beta of 1.47. The firm has a fifty day simple moving average of $27.77 and a two-hundred day simple moving average of $33.13.

Cognex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, May 15th. Cognex's dividend payout ratio is 47.06%.

Cognex Profile

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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