Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 678,401 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $66.13, for a total value of $44,862,658.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
NASDAQ GRMN opened at $66.15 on Friday. Garmin Ltd. has a 1 year low of $57.01 and a 1 year high of $70.77. The firm has a market capitalization of $13.10 billion, a P/E ratio of 19.12, a PEG ratio of 2.59 and a beta of 0.98.
Garmin (NASDAQ:GRMN) last released its earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.24. Garmin had a return on equity of 16.95% and a net margin of 19.45%. The firm had revenue of $810.01 million for the quarter, compared to the consensus estimate of $784.06 million. During the same period in the prior year, the firm earned $0.75 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Research analysts predict that Garmin Ltd. will post 3.48 earnings per share for the current year.
A number of equities analysts have recently issued reports on the company. BidaskClub raised Garmin from a “sell” rating to a “hold” rating in a research report on Saturday, October 27th. Morgan Stanley set a $77.00 price target on Garmin and gave the stock an “equal weight” rating in a research report on Friday, September 21st. Finally, Longbow Research set a $75.00 price target on Garmin and gave the stock a “buy” rating in a research report on Thursday, September 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $67.40.
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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