Equities Analysts Issue Forecasts for Cognex Q4 Earnings

Cognex Co. (NASDAQ:CGNX) – DA Davidson issued their Q4 2024 EPS estimates for Cognex in a research note issued on Tuesday, November 5th. DA Davidson analyst M. Summerville forecasts that the scientific and technical instruments company will post earnings per share of $0.04 for the quarter. DA Davidson currently has a “Neutral” rating and a $39.00 price target on the stock. The consensus estimate for Cognex’s current full-year earnings is $0.43 per share.

A number of other research analysts have also commented on CGNX. Needham & Company LLC cut 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. Robert W. Baird reduced their price objective on shares of Cognex from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, August 5th. StockNews.com raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Truist Financial cut shares of Cognex from a “buy” rating to a “hold” rating and cut their price target for the stock from $46.00 to $43.00 in a research note on Tuesday. Finally, Vertical Research began coverage on Cognex in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $58.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.91.

Cognex Stock Up 6.9 %

Shares of CGNX opened at $42.60 on Wednesday. The stock’s 50-day moving average price is $39.50 and its 200 day moving average price is $42.99. Cognex has a 12-month low of $34.79 and a 12-month high of $53.13. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 81.92 and a beta of 1.40.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in 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 buying an additional 1,469,961 shares during the period. Swedbank AB acquired a new position in shares of Cognex in the 1st quarter valued at $58,502,000. Impax Asset Management Group plc boosted its position in shares of Cognex by 32.8% in the 2nd 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 last quarter. William Blair Investment Management LLC boosted its position in shares of Cognex by 41.4% in the 1st quarter. William Blair Investment Management LLC now owns 3,716,623 shares of the scientific and technical instruments company’s stock worth $157,659,000 after purchasing an additional 1,088,095 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Cognex by 132.0% during the second quarter. Point72 Asset Management L.P. now owns 1,272,640 shares of the scientific and technical instruments company’s stock worth $59,509,000 after purchasing an additional 723,976 shares during the period. Institutional investors own 88.12% of the company’s stock.

Insider Transactions at Cognex

In other news, CFO Dennis Fehr acquired 6,570 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the transaction, the chief financial officer now owns 6,570 shares of the company’s stock, valued at approximately $249,922.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by company insiders.

Cognex Increases Dividend

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