Garmin (NYSE:GRMN) Director Sells $288,779.68 in Stock

Key Points

• Garmin director Sean Biddlecombe sold 986 shares for approximately $288,780 at an average price of $292.88, reducing his direct holdings by 14.07% to 6,021 shares.
• Garmin shares fell 0.8% to $295.17, while the company reported quarterly EPS of $2.81 and revenue of $2.02 billion, exceeding analyst expectations and marking 11.4% year-over-year revenue growth.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $289.20; institutional investors and hedge funds own 81.6% of the company’s stock.

Garmin Ltd. (NYSE:GRMN - Get Free Report) Director Sean Biddlecombe sold 986 shares of Garmin stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $292.88, for a total transaction of $288,779.68. Following the sale, the director directly owned 6,021 shares in the company, valued at approximately $1,763,430.48. The trade was a 14.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Garmin Trading Down 0.8%

Garmin stock traded down $2.38 during mid-day trading on Friday, hitting $295.17. The company's stock had a trading volume of 1,168,106 shares, compared to its average volume of 919,004. The firm has a market capitalization of $56.93 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 3.48 and a beta of 0.90. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $304.00. The stock's fifty day moving average is $241.94 and its two-hundred day moving average is $236.69.

Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The company had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter last year, the firm earned $2.17 earnings per share. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, equities analysts expect that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Analysts Set New Price Targets

GRMN has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. Morgan Stanley lifted their price target on shares of Garmin from $249.00 to $289.00 and gave the company an "equal weight" rating in a research report on Thursday. Tigress Financial boosted their price target on shares of Garmin from $320.00 to $325.00 and gave the company a "strong-buy" rating in a research note on Wednesday, May 20th. Zacks Research lowered shares of Garmin from a "strong-buy" rating to a "hold" rating in a report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Garmin in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $289.20.

Institutional Trading of Garmin

Several hedge funds have recently modified their holdings of the stock. Groupe la Francaise boosted its holdings in Garmin by 346.4% in the first quarter. Groupe la Francaise now owns 125 shares of the scientific and technical instruments company's stock valued at $29,000 after purchasing an additional 97 shares during the period. Reflection Asset Management acquired a new position in Garmin during the 4th quarter worth $32,000. Atlas Capital Advisors Inc. purchased a new stake in Garmin during the 4th quarter worth about $34,000. Archer Investment Corp purchased a new stake in Garmin during the 1st quarter worth about $37,000. Finally, GraniteShares Advisors LLC acquired a new stake in Garmin in the 4th quarter valued at about $41,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

About Garmin

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin's products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin's product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.

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