Patrick Desbois Sells 4,126 Shares of Garmin Ltd. (NYSE:GRMN) Stock

Garmin Ltd. (NYSE:GRMNGet Free Report) EVP Patrick Desbois sold 4,126 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the sale, the executive vice president now directly owns 58,412 shares of the company’s stock, valued at $9,551,530.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Garmin Stock Down 0.1 %

Shares of Garmin stock opened at $163.91 on Friday. The company has a market capitalization of $31.48 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 3.51 and a beta of 0.98. The stock’s 50-day simple moving average is $156.21 and its 200-day simple moving average is $138.65. Garmin Ltd. has a 52 week low of $99.61 and a 52 week high of $171.64.

Garmin (NYSE:GRMNGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm earned $1.02 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts expect that Garmin Ltd. will post 5.77 earnings per share for the current year.

Hedge Funds Weigh In On Garmin

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. bought a new stake in Garmin in the 4th quarter valued at $26,000. Clearstead Trust LLC purchased a new position in shares of Garmin during the first quarter valued at about $30,000. Frazier Financial Advisors LLC purchased a new position in shares of Garmin during the fourth quarter valued at about $33,000. Headinvest LLC bought a new stake in shares of Garmin in the third quarter worth about $41,000. Finally, Blue Trust Inc. lifted its position in shares of Garmin by 35.2% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after buying an additional 99 shares in the last quarter. Institutional investors own 73.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price objective on Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Bank of America lowered Garmin from a “neutral” rating to an “underperform” rating and cut their price target for the company from $165.00 to $150.00 in a report on Wednesday, May 22nd. StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a research report on Tuesday. Tigress Financial boosted their price objective on Garmin from $175.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 14th. Finally, Barclays raised their target price on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Garmin currently has a consensus rating of “Hold” and a consensus price target of $156.83.

Check Out Our Latest Analysis on GRMN

About Garmin

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Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.

Further Reading

Insider Buying and Selling by Quarter for Garmin (NYSE:GRMN)

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