Garmin Ltd. (NYSE:GRMN) Director Sean Biddlecombe Sells 587 Shares of Stock

Garmin Ltd. (NYSE:GRMN) Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Garmin Stock Up 0.3 %

GRMN stock opened at $210.34 on Friday. The stock has a market cap of $40.39 billion, a P/E ratio of 26.69, a PEG ratio of 3.22 and a beta of 0.97. Garmin Ltd. has a twelve month low of $114.76 and a twelve month high of $212.27. The business’s 50-day moving average price is $176.29 and its 200-day moving average price is $169.44.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the business posted $1.41 earnings per share. The firm’s revenue was up 24.1% on a year-over-year basis. On average, equities research analysts expect that Garmin Ltd. will post 6.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Garmin

Large investors have recently made changes to their positions in the company. Clearstead Trust LLC purchased a new stake in shares of Garmin during the 1st quarter valued at about $30,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Garmin during the second quarter worth approximately $31,000. Family Firm Inc. purchased a new stake in Garmin in the second quarter worth about $35,000. Benjamin Edwards Inc. increased its holdings in shares of Garmin by 73.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 99 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Garmin during the 2nd quarter valued at $46,000. 73.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on GRMN shares. Barclays boosted their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $155.00 to $138.00 in a report on Monday, October 7th. Finally, Tigress Financial upped their price objective on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $162.67.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.