Northcoast Research Analysts Cut Earnings Estimates for Cognex Co. (NASDAQ:CGNX)

Cognex Co. (NASDAQ:CGNX) – Equities researchers at Northcoast Research cut their Q2 2021 earnings estimates for Cognex in a research note issued to investors on Thursday, April 29th. Northcoast Research analyst T. Hayes now expects that the scientific and technical instruments company will earn $0.31 per share for the quarter, down from their previous estimate of $0.34. Northcoast Research also issued estimates for Cognex’s Q2 2022 earnings at $0.39 EPS.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Wednesday, February 10th. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $223.62 million for the quarter, compared to the consensus estimate of $206.81 million. Cognex had a net margin of 24.72% and a return on equity of 13.45%.

CGNX has been the topic of a number of other reports. Morgan Stanley boosted their price target on shares of Cognex from $62.00 to $68.00 and gave the company an “underweight” rating in a research report on Friday, February 12th. Zacks Investment Research upgraded shares of Cognex from a “hold” rating to a “strong-buy” rating and set a $100.00 target price on the stock in a research report on Thursday, February 18th. Raymond James boosted their price target on shares of Cognex from $75.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. Cowen boosted their price target on shares of Cognex from $85.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. Finally, HSBC raised shares of Cognex from a “hold” rating to a “buy” rating in a research note on Thursday, January 14th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Cognex presently has an average rating of “Hold” and an average price target of $75.44.

NASDAQ:CGNX opened at $80.83 on Monday. The firm has a market cap of $14.28 billion, a PE ratio of 76.25 and a beta of 1.64. Cognex has a 12 month low of $53.08 and a 12 month high of $101.82. The company’s 50-day moving average price is $83.73 and its two-hundred day moving average price is $80.14.

Large investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its position in Cognex by 4.7% during the fourth quarter. Alliancebernstein L.P. now owns 4,666,937 shares of the scientific and technical instruments company’s stock worth $374,685,000 after acquiring an additional 207,492 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Cognex during the fourth quarter worth about $1,160,000. Navellier & Associates Inc increased its position in Cognex by 3.2% during the fourth quarter. Navellier & Associates Inc now owns 103,414 shares of the scientific and technical instruments company’s stock worth $8,303,000 after acquiring an additional 3,181 shares during the period. Park Avenue Securities LLC increased its position in Cognex by 16.0% during the fourth quarter. Park Avenue Securities LLC now owns 4,247 shares of the scientific and technical instruments company’s stock worth $341,000 after acquiring an additional 587 shares during the period. Finally, Alpha DNA Investment Management LLC bought a new position in Cognex during the fourth quarter worth about $527,000. 91.47% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Carl Gerst sold 115,000 shares of the firm’s stock in a transaction dated Tuesday, February 23rd. The shares were sold at an average price of $82.76, for a total transaction of $9,517,400.00. Also, Director Dianne M. Parrotte sold 9,800 shares of the firm’s stock in a transaction dated Friday, February 19th. The stock was sold at an average price of $87.06, for a total transaction of $853,188.00. Following the sale, the director now owns 4,600 shares of the company’s stock, valued at approximately $400,476. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,800 shares of company stock valued at $10,781,888. Corporate insiders own 5.20% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Friday, March 12th. Shareholders of record on Friday, February 26th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Thursday, February 25th. Cognex’s dividend payout ratio is currently 20.69%.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order 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, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Earnings History and Estimates for Cognex (NASDAQ:CGNX)

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