Key Points
- COO Patrick Desbois sold 3,678 shares on Jan. 7 at an average price of $210.40 for about $773,851, leaving him with 61,798 shares (a 5.62% reduction in his ownership).
- Garmin reported $1.99 EPS and $1.77 billion in revenue for the most recent quarter (revenue +11.7% YoY) and set FY 2025 guidance at 8.15 EPS, versus analysts' average forecast of about 7.8 EPS.
- GRMN stock opened at $212.33 with a 52-week range of $169.26–$261.69, a market cap of $40.84 billion and a P/E of 26.15, while consensus analyst coverage is an average rating of "Hold" with a $242.60 price target.
Garmin Ltd. (NYSE:GRMN - Get Free Report) COO Patrick Desbois sold 3,678 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $210.40, for a total transaction of $773,851.20. Following the transaction, the chief operating officer directly owned 61,798 shares in the company, valued at approximately $13,002,299.20. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Garmin Stock Down 0.5%
GRMN stock opened at $212.33 on Friday. Garmin Ltd. has a 52 week low of $169.26 and a 52 week high of $261.69. The firm has a 50-day simple moving average of $201.61 and a 200-day simple moving average of $222.41. The stock has a market capitalization of $40.84 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.26 and a beta of 1.00.
Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.99. Garmin had a return on equity of 19.42% and a net margin of 22.63%.The company had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the previous year, the firm posted $1.99 EPS. Garmin's revenue was up 11.7% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. On average, analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.
Wall Street Analyst Weigh In
GRMN has been the topic of a number of research reports. Morgan Stanley raised their price objective on Garmin from $193.00 to $195.00 and gave the company an "underweight" rating in a report on Thursday, October 30th. Weiss Ratings reissued a "buy (b)" rating on shares of Garmin in a research note on Wednesday, October 8th. Longbow Research raised shares of Garmin from a "neutral" rating to a "buy" rating and set a $250.00 price objective for the company in a research note on Wednesday, December 3rd. Barclays increased their price objective on shares of Garmin from $167.00 to $208.00 and gave the company an "underweight" rating in a report on Thursday, October 30th. Finally, Tigress Financial restated a "strong-buy" rating on shares of Garmin in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $242.60.
View Our Latest Research Report on Garmin
Hedge Funds Weigh In On Garmin
Institutional investors have recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Garmin by 31.3% in the 4th quarter. Brighton Jones LLC now owns 1,943 shares of the scientific and technical instruments company's stock valued at $401,000 after buying an additional 463 shares during the period. NewEdge Advisors LLC increased its stake in Garmin by 6.2% during the first quarter. NewEdge Advisors LLC now owns 5,885 shares of the scientific and technical instruments company's stock worth $1,278,000 after acquiring an additional 345 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Garmin by 40.6% in the 1st quarter. Woodline Partners LP now owns 13,017 shares of the scientific and technical instruments company's stock valued at $2,826,000 after purchasing an additional 3,757 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Garmin by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,210,827 shares of the scientific and technical instruments company's stock valued at $262,907,000 after purchasing an additional 211,731 shares during the last quarter. Finally, Advisory Alpha LLC grew its holdings in shares of Garmin by 7.1% during the 1st quarter. Advisory Alpha LLC now owns 1,575 shares of the scientific and technical instruments company's stock worth $342,000 after purchasing an additional 105 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.
Garmin Company Profile
(
Get Free Report)
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.
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