Garmin Ltd. (NASDAQ:GRMN) EVP Patrick Desbois sold 3,014 shares of the company's stock in a transaction on Tuesday, February 23rd. The shares were sold at an average price of $126.90, for a total value of $382,476.60.
Shares of NASDAQ GRMN traded up $2.42 during mid-day trading on Wednesday, reaching $128.45. 626,592 shares of the company traded hands, compared to its average volume of 769,716. Garmin Ltd. has a fifty-two week low of $61.04 and a fifty-two week high of $133.43. The firm has a market cap of $24.61 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 3.50 and a beta of 0.98. The stock has a fifty day simple moving average of $122.99 and a 200-day simple moving average of $111.19.
Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Tuesday, February 16th. The scientific and technical instruments company reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.34. Garmin had a return on equity of 18.38% and a net margin of 25.89%. During the same quarter last year, the company posted $1.29 earnings per share. As a group, sell-side analysts predict that Garmin Ltd. will post 4.78 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC acquired a new position in Garmin in the third quarter worth approximately $27,000. CX Institutional boosted its stake in shares of Garmin by 75.7% during the 4th quarter. CX Institutional now owns 246 shares of the scientific and technical instruments company's stock worth $29,000 after acquiring an additional 106 shares in the last quarter. Tompkins Financial Corp acquired a new position in shares of Garmin in the 4th quarter worth $31,000. Exchange Traded Concepts LLC grew its holdings in shares of Garmin by 56.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 280 shares of the scientific and technical instruments company's stock worth $34,000 after acquiring an additional 101 shares during the last quarter. Finally, Heritage Wealth Advisors acquired a new stake in shares of Garmin during the third quarter worth $36,000. Hedge funds and other institutional investors own 49.56% of the company's stock.
A number of brokerages recently weighed in on GRMN. Bank of America reiterated a "buy" rating and issued a $146.00 target price on shares of Garmin in a report on Thursday, January 14th. Colliers Securities reiterated a "buy" rating on shares of Garmin in a research note on Thursday, January 28th. Zacks Investment Research upgraded shares of Garmin from a "hold" rating to a "buy" rating and set a $109.00 target price for the company in a research note on Tuesday, November 3rd. Morgan Stanley boosted their price objective on shares of Garmin from $106.00 to $123.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 16th. Finally, JPMorgan Chase & Co. upped their target price on Garmin from $112.00 to $133.00 and gave the company an "overweight" rating in a research report on Thursday, February 4th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Garmin presently has an average rating of "Buy" and an average target price of $122.88.
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories.
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