Garmin (NYSE:GRMN) COO Patrick Desbois Sells 3,678 Shares

Garmin Ltd. (NYSE:GRMN) COO Patrick Desbois sold 3,678 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $210.40, for a total value of $773,851.20. Following the completion of the sale, the chief operating officer owned 61,798 shares of the company’s stock, valued at approximately $13,002,299.20. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Garmin Trading Down 0.5%

Shares of GRMN stock traded down $1.13 during trading hours on Friday, reaching $212.33. The company’s stock had a trading volume of 626,063 shares, compared to its average volume of 892,572. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69. The stock has a market capitalization of $40.84 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.23 and a beta of 1.00. The firm’s fifty day simple moving average is $201.61 and its 200 day simple moving average is $222.41.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting analysts’ consensus estimates of $1.99. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Garmin

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Garmin by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock valued at $4,973,044,000 after purchasing an additional 499,235 shares during the last quarter. State Street Corp lifted its stake in shares of Garmin by 1.8% in the third quarter. State Street Corp now owns 7,250,844 shares of the scientific and technical instruments company’s stock worth $1,785,304,000 after buying an additional 126,677 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Garmin by 6.4% in the second quarter. Artisan Partners Limited Partnership now owns 5,892,150 shares of the scientific and technical instruments company’s stock worth $1,229,810,000 after buying an additional 356,161 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Garmin by 1.3% during the second quarter. Geode Capital Management LLC now owns 4,606,511 shares of the scientific and technical instruments company’s stock valued at $958,405,000 after buying an additional 59,321 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Garmin during the second quarter valued at approximately $410,304,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GRMN shares. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Longbow Research raised Garmin from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Wednesday, December 3rd. Tigress Financial restated a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Morgan Stanley upped their price target on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. Finally, Barclays raised their price objective on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Garmin has a consensus rating of “Hold” and a consensus target price of $242.60.

Garmin Company Profile

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.