Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 370,832 shares of the firm’s stock in a transaction that occurred on Wednesday, July 11th. The stock was sold at an average price of $62.48, for a total transaction of $23,169,583.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of Garmin traded down $1.02, reaching $62.28, during midday trading on Wednesday, according to MarketBeat. 998,001 shares of the stock were exchanged, compared to its average volume of 1,016,328. The company has a market capitalization of $11.76 billion, a P/E ratio of 21.19, a P/E/G ratio of 2.38 and a beta of 1.02. Garmin Ltd. has a twelve month low of $49.80 and a twelve month high of $65.96.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings results on Wednesday, May 2nd. The scientific and technical instruments company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. The business had revenue of $711.00 million during the quarter, compared to the consensus estimate of $670.71 million. Garmin had a net margin of 18.57% and a return on equity of 15.66%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. equities research analysts forecast that Garmin Ltd. will post 3.14 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in GRMN. Point72 Asia Hong Kong Ltd increased its holdings in Garmin by 105.4% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,736 shares of the scientific and technical instruments company’s stock valued at $102,000 after purchasing an additional 891 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Garmin by 11.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,373 shares of the scientific and technical instruments company’s stock valued at $668,000 after purchasing an additional 1,162 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its holdings in Garmin by 6.2% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 20,863 shares of the scientific and technical instruments company’s stock valued at $1,242,000 after purchasing an additional 1,209 shares during the last quarter. LPL Financial LLC increased its holdings in Garmin by 9.4% in the 1st quarter. LPL Financial LLC now owns 14,459 shares of the scientific and technical instruments company’s stock valued at $852,000 after purchasing an additional 1,245 shares during the last quarter. Finally, Crescent Grove Advisors LLC increased its holdings in Garmin by 14.4% in the 1st quarter. Crescent Grove Advisors LLC now owns 10,300 shares of the scientific and technical instruments company’s stock valued at $607,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

A number of brokerages have recently issued reports on GRMN. ValuEngine upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday. BidaskClub upgraded shares of Garmin from a “hold” rating to a “buy” rating in a report on Wednesday, May 30th. Finally, Zacks Investment Research downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Garmin currently has a consensus rating of “Hold” and an average price target of $60.40.

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.

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

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