Insider Selling: Garmin Ltd. (GRMN) Insider Sells 95,814 Shares of Stock
Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 95,814 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $69.70, for a total value of $6,678,235.80. Following the transaction, the insider now directly owns 1,901,429 shares in the company, valued at approximately $132,529,601.30. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of NASDAQ GRMN opened at $69.59 on Friday. Garmin Ltd. has a 1-year low of $53.45 and a 1-year high of $70.75. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 2.87 and a beta of 1.03.
Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.12. Garmin had a return on equity of 15.98% and a net margin of 18.72%. The company had revenue of $894.50 million for the quarter, compared to the consensus estimate of $844.76 million. During the same quarter in the prior year, the business earned $0.88 EPS. Garmin’s revenue was up 7.6% on a year-over-year basis. equities analysts expect that Garmin Ltd. will post 3.3 earnings per share for the current year.
Several equities analysts recently issued reports on GRMN shares. BidaskClub lowered Garmin from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Morgan Stanley set a $77.00 target price on Garmin and gave the stock an “equal weight” rating in a research note on Friday, September 21st. Finally, Longbow Research set a $72.00 target price on Garmin and gave the stock a “buy” rating in a research note on Thursday, July 19th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Garmin has an average rating of “Buy” and a consensus target price of $67.40.
Garmin Company Profile
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
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