Garmin Ltd. (NASDAQ:GRMN) EVP Patrick Desbois sold 1,881 shares of Garmin stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $55.00, for a total transaction of $103,455.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Garmin Ltd. (NASDAQ GRMN) opened at 55.20 on Wednesday. The stock has a 50 day moving average of $53.01 and a 200 day moving average of $51.72. The stock has a market capitalization of $10.36 billion, a P/E ratio of 15.51 and a beta of 0.86. Garmin Ltd. has a 52-week low of $46.80 and a 52-week high of $55.74.
Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Garmin had a return on equity of 15.55% and a net margin of 22.07%. The business had revenue of $816.89 million during the quarter, compared to analysts’ expectations of $806.67 million. During the same period in the prior year, the business earned $0.87 EPS. Garmin’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts forecast that Garmin Ltd. will post $2.80 EPS for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. WFG Advisors LP increased its stake in Garmin by 11.5% during the 2nd quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 225 shares in the last quarter. US Bancorp DE increased its stake in Garmin by 8.8% during the 2nd quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after purchasing an additional 180 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Garmin during the 1st quarter worth approximately $156,000. Cutler Group LP bought a new stake in Garmin during the 2nd quarter worth approximately $188,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Garmin by 72.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,741 shares of the scientific and technical instruments company’s stock worth $191,000 after purchasing an additional 1,568 shares in the last quarter. 39.59% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research report on Tuesday. Longbow Research reissued a “buy” rating on shares of Garmin in a research report on Thursday, August 3rd. Tigress Financial reissued a “buy” rating on shares of Garmin in a research report on Monday, July 10th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Garmin in a research report on Tuesday, August 8th. Finally, BidaskClub downgraded shares of Garmin from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $52.80.
Garmin Company Profile
Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.
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