Cantor Fitzgerald Estimates Cognex FY2024 Earnings

Cognex Co. (NASDAQ:CGNX) – Equities researchers at Cantor Fitzgerald issued their FY2024 earnings per share (EPS) estimates for shares of Cognex in a note issued to investors on Thursday, December 19th. Cantor Fitzgerald analyst T. Jensen expects that the scientific and technical instruments company will earn $0.38 per share for the year. Cantor Fitzgerald currently has a “Strong-Buy” rating on the stock. The consensus estimate for Cognex’s current full-year earnings is $0.39 per share.

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

Cognex Price Performance

Shares of CGNX opened at $36.69 on Monday. The company has a market cap of $6.29 billion, a P/E ratio of 70.56 and a beta of 1.39. Cognex has a 12 month low of $34.79 and a 12 month high of $53.13. The stock has a fifty day moving average price of $39.43 and a 200 day moving average price of $41.66.

Institutional Trading of Cognex

Several large investors have recently added to or reduced their stakes in CGNX. HHM Wealth Advisors LLC increased its position in Cognex by 19.8% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,819 shares of the scientific and technical instruments company’s stock worth $85,000 after buying an additional 301 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of 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 buying an additional 349 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of 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 buying an additional 390 shares during the period. Advisors Asset Management Inc. increased its stake in Cognex by 123.1% during the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 394 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in Cognex by 20.1% in 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 acquiring an additional 457 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

Insider Transactions at Cognex

In other Cognex news, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $37.75, for a total value 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 disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, November 14th. This is a positive change from Cognex’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a yield of 0.87%. Cognex’s dividend payout ratio is currently 61.54%.

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.