Cognex Co. (NASDAQ:CGNX - Free Report) - Investment analysts at Cantor Fitzgerald issued their FY2024 earnings per share (EPS) estimates for shares of Cognex in a report released on Thursday, December 19th. Cantor Fitzgerald analyst T. Jensen forecasts that the scientific and technical instruments company will earn $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 equities analysts have also recently issued reports about the stock. Needham & Company LLC dropped their price objective 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. Stephens raised shares of Cognex from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $45.00 to $55.00 in a report on Wednesday, October 16th. Finally, Truist Financial cut their price target on shares of Cognex from $43.00 to $42.00 and set a "hold" rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Cognex currently has a consensus rating of "Hold" and an average target price of $47.92.
Check Out Our Latest Stock Analysis on Cognex
Cognex Price Performance
Shares of NASDAQ:CGNX traded up $0.38 during trading on Monday, reaching $36.15. The company had a trading volume of 949,348 shares, compared to its average volume of 1,267,150. The stock's fifty day moving average price is $39.43 and its 200 day moving average price is $41.66. Cognex has a fifty-two week low of $34.79 and a fifty-two week high of $53.13. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 69.52 and a beta of 1.39.
Cognex Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a $0.08 dividend. 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, CTO Joerg Kuechen sold 2,934 shares of the 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 available at this hyperlink. Also, Director Anthony Sun sold 26,000 shares of the business'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 completion of the transaction, the director now directly owns 26,608 shares of the company's stock, valued at $1,065,118.24. The trade was a 49.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.
Institutional Trading of Cognex
A number of hedge funds have recently bought and sold shares of CGNX. William Blair Investment Management LLC lifted its stake in shares of Cognex by 8.1% during the 2nd quarter. William Blair Investment Management LLC now owns 4,018,539 shares of the scientific and technical instruments company's stock worth $187,907,000 after purchasing an additional 301,916 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cognex by 33.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,621,629 shares of the scientific and technical instruments company's stock worth $75,828,000 after buying an additional 409,502 shares during the last quarter. Bridges Investment Management Inc. purchased a new stake in Cognex in the 2nd quarter valued at about $980,000. Legacy Advisors LLC increased its stake in shares of Cognex by 15.3% during the 2nd quarter. Legacy Advisors LLC now owns 17,625 shares of the scientific and technical instruments company's stock valued at $824,000 after acquiring an additional 2,344 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Cognex by 16.3% during the 2nd quarter. Mackenzie Financial Corp now owns 1,494,312 shares of the scientific and technical instruments company's stock worth $69,874,000 after acquiring an additional 209,630 shares during the period. Institutional investors and hedge funds own 88.12% of the company's stock.
Cognex Company Profile
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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.
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