Min H. Kao Sells 95,814 Shares of Garmin Ltd. (GRMN) Stock

Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 95,814 shares of Garmin stock in a transaction on Monday, September 24th. The shares were sold at an average price of $69.70, for a total value of $6,678,235.80. Following the completion of the sale, the insider now directly owns 1,901,429 shares of the company’s stock, valued at approximately $132,529,601.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

GRMN stock traded up $0.32 during trading on Wednesday, reaching $69.94. 4,158 shares of the stock traded hands, compared to its average volume of 1,069,707. Garmin Ltd. has a 52-week low of $53.33 and a 52-week high of $70.75. The company has a market cap of $13.80 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $894.50 million during the quarter, compared to the consensus estimate of $844.76 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. equities analysts predict that Garmin Ltd. will post 3.3 earnings per share for the current fiscal year.

GRMN has been the subject of a number of recent analyst reports. Longbow Research set a $72.00 price objective on Garmin and gave the company a “buy” rating in a research report on Thursday, July 19th. BidaskClub raised Garmin from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 18th. Morgan Stanley set a $77.00 price objective on Garmin and gave the company an “equal weight” rating in a research report on Friday, September 21st. Finally, ValuEngine raised Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $67.40.

A number of hedge funds have recently bought and sold shares of GRMN. OppenheimerFunds Inc. lifted its stake in shares of Garmin by 15.5% during the second quarter. OppenheimerFunds Inc. now owns 5,994 shares of the scientific and technical instruments company’s stock worth $366,000 after purchasing an additional 805 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Garmin by 2.5% during the second quarter. Millennium Management LLC now owns 33,946 shares of the scientific and technical instruments company’s stock worth $2,071,000 after purchasing an additional 842 shares in the last quarter. Point72 Asia Hong Kong Ltd lifted its stake in shares of Garmin by 105.4% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,736 shares of the scientific and technical instruments company’s stock worth $102,000 after purchasing an additional 891 shares in the last quarter. Green Square Capital LLC lifted its stake in shares of Garmin by 12.7% during the second quarter. Green Square Capital LLC now owns 7,932 shares of the scientific and technical instruments company’s stock worth $484,000 after purchasing an additional 892 shares in the last quarter. Finally, Segment Wealth Management LLC lifted its stake in shares of Garmin by 1.5% during the second quarter. Segment Wealth Management LLC now owns 60,235 shares of the scientific and technical instruments company’s stock worth $3,674,000 after purchasing an additional 905 shares in the last quarter. 39.81% of the stock is owned by hedge funds and other institutional investors.

About Garmin

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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