Cantor Fitzgerald Estimates Cognex FY2024 Earnings

Cognex Co. (NASDAQ:CGNX) – Equities research analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for shares of Cognex in a report released on Thursday, December 19th. Cantor Fitzgerald analyst T. Jensen anticipates that the scientific and technical instruments company will post earnings per share of $0.38 for the year. Cantor Fitzgerald has a “Overweight” rating and a $49.00 price target on the stock. The consensus estimate for Cognex’s current full-year earnings is $0.39 per share.

Several other equities research analysts have also issued reports on the stock. Stephens raised shares of Cognex from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $45.00 to $55.00 in a report on Wednesday, October 16th. Truist Financial reduced their price objective on shares of Cognex from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Finally, Needham & Company LLC lowered 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $47.92.

Cognex Stock Up 1.1 %

Shares of CGNX opened at $36.15 on Monday. Cognex has a 52 week low of $34.79 and a 52 week high of $53.13. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 69.52 and a beta of 1.39. The business has a 50-day simple moving average of $39.43 and a two-hundred day simple moving average of $41.66.

Cognex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, November 14th. This is an increase from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio is 61.54%.

Insider Activity

In related news, Director Anthony Sun sold 26,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the sale, the director now owns 26,608 shares of the company’s stock, valued at $1,065,118.24. This represents a 49.42 % 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 link. Also, CTO Joerg Kuechen sold 2,934 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Cognex

Several hedge funds have recently made changes to their positions in the business. Impax Asset Management Group plc increased its position in shares of Cognex by 2.6% during the 3rd quarter. Impax Asset Management Group plc now owns 5,230,271 shares of the scientific and technical instruments company’s stock valued at $211,303,000 after purchasing an additional 131,560 shares during the last quarter. State Street Corp boosted its stake in Cognex by 0.8% during the third quarter. State Street Corp now owns 5,190,365 shares of the scientific and technical instruments company’s stock worth $210,210,000 after buying an additional 42,882 shares during the period. William Blair Investment Management LLC increased its position in Cognex by 8.1% during the second quarter. William Blair Investment Management LLC now owns 4,018,539 shares of the scientific and technical instruments company’s stock valued at $187,907,000 after acquiring an additional 301,916 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Cognex by 8.9% in the third quarter. Disciplined Growth Investors Inc. MN now owns 3,751,807 shares of the scientific and technical instruments company’s stock valued at $151,948,000 after acquiring an additional 305,913 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Cognex by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,608,028 shares of the scientific and technical instruments company’s stock worth $146,157,000 after acquiring an additional 175,423 shares during the last quarter. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Cognex Company 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.