Cantor Fitzgerald Weighs in on Cognex FY2024 Earnings

Cognex Co. (NASDAQ:CGNX) – Research analysts at Cantor Fitzgerald issued their FY2024 earnings 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 of $0.38 per share for the year. Cantor Fitzgerald has a “Overweight” rating and a $49.00 price objective on the stock. The consensus estimate for Cognex’s current full-year earnings is $0.39 per share.

Other analysts have also issued reports about the stock. Stephens upgraded shares of Cognex from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $45.00 to $55.00 in a report on Wednesday, October 16th. Needham & Company LLC lowered their target price on Cognex from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Truist Financial reduced their price target on Cognex from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Cognex presently has a consensus rating of “Hold” and an average target price of $47.92.

Cognex Trading Up 1.1 %

Shares of CGNX opened at $36.15 on Monday. Cognex has a 1-year low of $34.79 and a 1-year high of $53.13. The firm’s 50-day moving average price is $39.43 and its 200-day moving average price is $41.66. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 69.52 and a beta of 1.39.

Institutional Investors Weigh In On Cognex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC lifted its holdings in shares of Cognex by 19.8% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock valued at $85,000 after buying an additional 301 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Cognex by 9.4% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,055 shares of the scientific and technical instruments company’s stock valued at $164,000 after acquiring an additional 349 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Cognex by 11.3% in the second quarter. Fifth Third Bancorp now owns 3,829 shares of the scientific and technical instruments company’s stock valued at $179,000 after acquiring an additional 390 shares during the period. Advisors Asset Management Inc. boosted its position in Cognex by 123.1% in the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 394 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Cognex by 20.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,732 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 457 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Insider Activity at Cognex

In other Cognex news, Director Anthony Sun sold 26,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 26,608 shares in the company, valued at approximately $1,065,118.24. This represents a 49.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction that occurred on Thursday, December 12th. The stock was 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. 1.30% of the stock is currently owned by insiders.

Cognex Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a $0.08 dividend. This is a boost from Cognex’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. Cognex’s payout ratio is presently 61.54%.

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.