Garmin Ltd. (NASDAQ:GRMN) EVP Patrick Desbois sold 1,881 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $55.00, for a total value of $103,455.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Garmin Ltd. (NASDAQ:GRMN) opened at 56.47 on Friday. Garmin Ltd. has a one year low of $46.80 and a one year high of $56.75. The company has a market capitalization of $10.60 billion, a P/E ratio of 15.87 and a beta of 0.86. The firm has a 50-day moving average of $53.82 and a 200-day moving average of $52.02.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.07. The company had revenue of $816.89 million during the quarter, compared to analyst estimates of $806.67 million. Garmin had a net margin of 22.07% and a return on equity of 15.55%. Garmin’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. Analysts forecast that Garmin Ltd. will post $2.80 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the stock. WFG Advisors LP lifted its stake in Garmin by 11.5% in the second quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock worth $111,000 after acquiring an additional 225 shares during the last quarter. US Bancorp DE lifted its stake in Garmin by 8.8% in the second quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after acquiring an additional 180 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Garmin in the first quarter worth approximately $156,000. Cutler Group LP purchased a new position in Garmin in the second quarter worth approximately $188,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Garmin by 72.2% during the second 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. Institutional investors own 39.66% of the company’s stock.
GRMN has been the topic of a number of research reports. Morgan Stanley set a $50.00 price target on shares of Garmin and gave the company a “hold” rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garmin in a research report on Tuesday, August 8th. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research report on Monday, July 10th. BidaskClub upgraded shares of Garmin from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, Longbow Research reissued a “buy” rating on shares of Garmin in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Garmin has a consensus 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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