Garmin Ltd. (NYSE:GRMN) Director Sells $123,328.70 in Stock

Garmin Ltd. (NYSE:GRMN) Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Garmin Price Performance

Shares of Garmin stock traded up $0.67 during trading on Thursday, reaching $210.34. 848,023 shares of the company traded hands, compared to its average volume of 857,718. The company has a 50 day moving average price of $175.69 and a 200-day moving average price of $169.15. Garmin Ltd. has a 1-year low of $114.76 and a 1-year high of $212.27. The firm has a market capitalization of $40.39 billion, a PE ratio of 26.61, a P/E/G ratio of 3.22 and a beta of 0.97.

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

Analyst Ratings Changes

GRMN has been the subject of several analyst reports. Barclays raised their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Tigress Financial raised their price target on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $162.67.

Institutional Trading of Garmin

Several institutional investors have recently made changes to their positions in the company. LBP AM SA boosted its position in Garmin by 81.4% during the first quarter. LBP AM SA now owns 7,284 shares of the scientific and technical instruments company’s stock worth $1,084,000 after purchasing an additional 3,268 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Garmin by 3.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 173,715 shares of the scientific and technical instruments company’s stock worth $25,861,000 after purchasing an additional 5,945 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Garmin by 51.7% in the first quarter. Cetera Investment Advisers now owns 28,395 shares of the scientific and technical instruments company’s stock valued at $4,227,000 after acquiring an additional 9,681 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Garmin by 4.4% in the first quarter. Russell Investments Group Ltd. now owns 178,073 shares of the scientific and technical instruments company’s stock valued at $26,500,000 after acquiring an additional 7,553 shares in the last quarter. Finally, Twin Tree Management LP purchased a new position in Garmin during the first quarter valued at $3,680,000. Institutional investors own 73.41% of the company’s stock.

Garmin Company Profile

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.