Garmin Ltd. (NASDAQ:GRMN) insider Pao-Chang Huang sold 4,800 shares of Garmin stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $60.37, for a total value of $289,776.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Garmin stock opened at $59.51 on Thursday. The firm has a market capitalization of $11,882.66, a P/E ratio of 16.17, a P/E/G ratio of 2.36 and a beta of 0.97. Garmin Ltd. has a 52 week low of $48.50 and a 52 week high of $65.96.
Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. The firm had revenue of $888.49 million during the quarter, compared to analysts’ expectations of $872.73 million. Garmin had a return on equity of 15.16% and a net margin of 22.51%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share. analysts forecast that Garmin Ltd. will post 3.05 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of GRMN. Heartland Advisors Inc. purchased a new stake in Garmin in the fourth quarter valued at approximately $208,000. Garrison Financial Corp purchased a new stake in Garmin in the fourth quarter valued at approximately $211,000. LMR Partners LLP purchased a new stake in Garmin in the fourth quarter valued at approximately $283,000. Financial Advocates Investment Management purchased a new stake in Garmin in the fourth quarter valued at approximately $320,000. Finally, Sciencast Management LP purchased a new stake in Garmin in the fourth quarter valued at approximately $355,000. Hedge funds and other institutional investors own 39.29% of the company’s stock.
GRMN has been the subject of several recent research reports. BidaskClub cut Garmin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Credit Suisse Group reiterated an “underperform” rating and issued a $58.00 price objective (up previously from $48.00) on shares of Garmin in a research note on Tuesday, December 12th. Tigress Financial reiterated a “buy” rating on shares of Garmin in a research note on Friday, December 15th. ValuEngine upgraded Garmin from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research cut Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Garmin presently has a consensus rating of “Hold” and an average price target of $57.00.
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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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