Foster Victor Wealth Advisors LLC Boosts Stock Holdings in Cognex Co. (NASDAQ:CGNX)

Foster Victor Wealth Advisors LLC raised its position in shares of Cognex Co. (NASDAQ:CGNX) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,609 shares of the scientific and technical instruments company’s stock after acquiring an additional 20,827 shares during the quarter. Foster Victor Wealth Advisors LLC owned approximately 0.18% of Cognex worth $12,499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. lifted its holdings in Cognex by 122.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,834,755 shares of the scientific and technical instruments company’s stock valued at $114,808,000 after purchasing an additional 1,562,115 shares in the last quarter. Ceredex Value Advisors LLC raised its position in shares of Cognex by 116.0% in the third quarter. Ceredex Value Advisors LLC now owns 789,550 shares of the scientific and technical instruments company’s stock valued at $31,977,000 after buying an additional 423,950 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its stake in shares of Cognex by 91.5% in the third quarter. Northwest & Ethical Investments L.P. now owns 642,737 shares of the scientific and technical instruments company’s stock worth $26,031,000 after buying an additional 307,018 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Cognex by 8.9% during the third quarter. Disciplined Growth Investors Inc. MN now owns 3,751,807 shares of the scientific and technical instruments company’s stock worth $151,948,000 after acquiring an additional 305,913 shares during the last quarter. Finally, Swedbank AB grew its stake in Cognex by 21.4% during the 3rd quarter. Swedbank AB now owns 1,700,000 shares of the scientific and technical instruments company’s stock valued at $68,850,000 after acquiring an additional 300,000 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cognex Stock Performance

Shares of CGNX stock opened at $39.71 on Wednesday. The firm’s 50 day moving average price is $38.14 and its 200-day moving average price is $40.03. Cognex Co. has a one year low of $34.79 and a one year high of $53.13. The firm has a market cap of $6.81 billion, a P/E ratio of 76.37 and a beta of 1.40.

Analyst Ratings Changes

CGNX has been the topic of a number of research reports. Needham & Company LLC decreased their target price on shares of Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Citigroup lowered their price objective on Cognex from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Truist Financial raised their target price on Cognex from $42.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Cantor Fitzgerald raised shares of Cognex to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Stephens restated an “overweight” rating and set a $55.00 price objective on shares of Cognex in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Insider Activity at Cognex

In other news, CTO Joerg Kuechen sold 2,934 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total transaction of $110,758.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Anthony Sun sold 26,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.03, for a total value of $1,040,780.00. Following the sale, the director now owns 26,608 shares in the company, valued at approximately $1,065,118.24. This trade represents a 49.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.