Key Points
- Director sale: Cognex director Angelos Papadimitriou sold 4,150 shares on Feb 23 at an average price of $55.58 for $230,657, cutting his stake by 20.37% to 16,222 shares (about $901,619).
- Quarterly results and dividend: Cognex beat estimates with $0.27 EPS (vs. $0.22) and $252.34M revenue (+9.9% YoY) and announced a $0.085 quarterly dividend (annualized $0.34) with an ex-dividend date of Feb 26 and pay date Mar 12.
- Analyst sentiment and valuation: The stock has a consensus "Moderate Buy" and $55.21 price target amid several buy/strong-buy ratings, trading near its 52‑week high ($59.88) with a P/E of 86.39 and market cap around $9.6B.
Cognex Corporation (NASDAQ:CGNX - Get Free Report) Director Angelos Papadimitriou sold 4,150 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $55.58, for a total value of $230,657.00. Following the sale, the director directly owned 16,222 shares in the company, valued at $901,618.76. This represents a 20.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Cognex Stock Performance
CGNX opened at $57.88 on Wednesday. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 86.39 and a beta of 1.53. Cognex Corporation has a fifty-two week low of $22.67 and a fifty-two week high of $59.88. The company has a fifty day moving average of $42.24 and a two-hundred day moving average of $42.37.
Cognex (NASDAQ:CGNX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The scientific and technical instruments company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $252.34 million for the quarter, compared to the consensus estimate of $238.92 million. Cognex had a net margin of 11.51% and a return on equity of 9.02%. The company's revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. On average, equities research analysts forecast that Cognex Corporation will post 0.61 earnings per share for the current year.
Cognex Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be issued a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, February 26th. Cognex's dividend payout ratio (DPR) is currently 50.75%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. UBS Group restated a "buy" rating and set a $70.00 price objective on shares of Cognex in a research report on Friday, February 13th. Zacks Research upgraded shares of Cognex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Cognex in a research report on Thursday, February 12th. TD Cowen reiterated a "buy" rating on shares of Cognex in a research report on Tuesday, February 17th. Finally, KeyCorp reissued an "overweight" rating and set a $70.00 target price (up from $50.00) on shares of Cognex in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.21.
Get Our Latest Report on Cognex
Institutional Investors Weigh In On Cognex
Several large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. raised its holdings in Cognex by 13.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 318,984 shares of the scientific and technical instruments company's stock valued at $14,450,000 after acquiring an additional 37,405 shares in the last quarter. Nordea Investment Management AB grew its holdings in Cognex by 13.4% during the 3rd quarter. Nordea Investment Management AB now owns 8,025,371 shares of the scientific and technical instruments company's stock worth $361,382,000 after acquiring an additional 949,599 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Cognex by 43.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,024,355 shares of the scientific and technical instruments company's stock valued at $137,003,000 after purchasing an additional 922,149 shares during the last quarter. IMC Chicago LLC acquired a new stake in shares of Cognex in the 3rd quarter valued at $5,761,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of Cognex by 203.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 266,954 shares of the scientific and technical instruments company's stock worth $12,093,000 after purchasing an additional 178,911 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.
About Cognex
(
Get Free Report)
Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.
The company's product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.
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