What is DA Davidson’s Estimate for Cognex FY2024 Earnings?

Cognex Co. (NASDAQ:CGNX) – Stock analysts at DA Davidson cut their FY2024 earnings estimates for Cognex in a research note issued to investors on Tuesday, November 5th. DA Davidson analyst M. Summerville now forecasts that the scientific and technical instruments company will post earnings of $0.39 per share for the year, down from their prior forecast of $0.47. DA Davidson currently has a “Neutral” rating and a $39.00 target price on the stock. The consensus estimate for Cognex’s current full-year earnings is $0.43 per share. DA Davidson also issued estimates for Cognex’s FY2025 earnings at $0.67 EPS.

Several other equities analysts have also recently weighed in on CGNX. Robert W. Baird decreased their price objective on Cognex from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Vertical Research initiated coverage on Cognex in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 price target for the company. Needham & Company LLC dropped their price objective on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. StockNews.com raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Stephens raised shares of Cognex from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $45.00 to $55.00 in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Cognex has a consensus rating of “Hold” and an average target price of $47.91.

Cognex Trading Down 0.3 %

Shares of CGNX stock opened at $42.91 on Thursday. The firm’s fifty day moving average price is $39.62 and its two-hundred day moving average price is $43.01. Cognex has a 1 year low of $34.79 and a 1 year high of $53.13. The firm has a market capitalization of $7.36 billion, a P/E ratio of 82.52 and a beta of 1.40.

Cognex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Thursday, November 14th. This is a boost from Cognex’s previous quarterly dividend of $0.08. Cognex’s dividend payout ratio (DPR) is currently 57.69%.

Insider Buying and Selling

In related news, CFO Dennis Fehr purchased 6,570 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $38.04 per share, with a total value of $249,922.80. Following the acquisition, the chief financial officer now directly owns 6,570 shares in the company, valued at $249,922.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Cognex by 986.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,007 shares of the scientific and technical instruments company’s stock valued at $68,679,000 after acquiring an additional 1,469,961 shares in the last quarter. Swedbank AB acquired a new position in shares of Cognex during the 1st quarter worth approximately $58,502,000. Impax Asset Management Group plc increased its holdings in shares of Cognex by 32.8% during the second quarter. Impax Asset Management Group plc now owns 5,098,711 shares of the scientific and technical instruments company’s stock worth $237,812,000 after purchasing an additional 1,259,116 shares during the period. William Blair Investment Management LLC raised its position in shares of Cognex by 41.4% in the first quarter. William Blair Investment Management LLC now owns 3,716,623 shares of the scientific and technical instruments company’s stock valued at $157,659,000 after buying an additional 1,088,095 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Cognex by 132.0% in the second quarter. Point72 Asset Management L.P. now owns 1,272,640 shares of the scientific and technical instruments company’s stock valued at $59,509,000 after buying an additional 723,976 shares during the period. Institutional investors own 88.12% of the company’s stock.

About Cognex

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.