Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 362,080 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $79.09, for a total value of $28,636,907.20. Following the completion of the sale, the insider now owns 1,799,429 shares in the company, valued at approximately $142,316,839.61. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of GRMN stock opened at $79.79 on Friday. The company has a current ratio of 4.04, a quick ratio of 3.07 and a debt-to-equity ratio of 0.01. The firm has a market cap of $15.80 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. The stock’s 50 day simple moving average is $79.31. Garmin Ltd. has a 1-year low of $59.98 and a 1-year high of $89.72.
Garmin (NASDAQ:GRMN) last announced its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $766.00 million during the quarter, compared to the consensus estimate of $733.26 million. Garmin had a return on equity of 17.60% and a net margin of 20.72%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 EPS. On average, research analysts forecast that Garmin Ltd. will post 3.75 EPS for the current year.
GRMN has been the topic of several recent research reports. Morgan Stanley upped their price objective on Zynga and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price objective on Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a “neutral” rating in a research report on Friday, June 7th. Zacks Investment Research lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Finally, Tigress Financial restated a “buy” rating on shares of Garmin in a research report on Tuesday, June 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $78.66.
Several hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC raised its stake in shares of Garmin by 1.9% during the 1st quarter. Janus Henderson Group PLC now owns 1,452,073 shares of the scientific and technical instruments company’s stock worth $125,386,000 after buying an additional 26,844 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Garmin by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,403,209 shares of the scientific and technical instruments company’s stock worth $88,848,000 after buying an additional 39,907 shares during the period. Northern Trust Corp raised its stake in shares of Garmin by 1.6% during the 1st quarter. Northern Trust Corp now owns 1,373,186 shares of the scientific and technical instruments company’s stock worth $118,575,000 after buying an additional 22,233 shares during the period. Norges Bank acquired a new position in shares of Garmin during the 4th quarter worth approximately $82,766,000. Finally, First Trust Advisors LP raised its stake in shares of Garmin by 26.3% during the 1st quarter. First Trust Advisors LP now owns 1,120,558 shares of the scientific and technical instruments company’s stock worth $96,760,000 after buying an additional 233,543 shares during the period. 42.58% of the stock is owned by institutional investors and hedge funds.
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
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