Garmin (NYSE:GRMN) CFO Douglas Boessen Sells 2,485 Shares

Garmin Ltd. (NYSE:GRMN) CFO Douglas Boessen sold 2,485 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $206.26, for a total value of $512,556.10. Following the completion of the transaction, the chief financial officer directly owned 28,916 shares in the company, valued at $5,964,214.16. This represents a 7.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Garmin Price Performance

Shares of GRMN traded up $2.43 during trading hours on Thursday, hitting $203.90. 22,204 shares of the company were exchanged, compared to its average volume of 938,839. The firm has a fifty day simple moving average of $214.67 and a 200-day simple moving average of $222.33. The company has a market capitalization of $39.22 billion, a PE ratio of 25.08, a PEG ratio of 2.34 and a beta of 1.01. Garmin Ltd. has a one year low of $169.26 and a one year high of $261.69.

Garmin (NYSE:GRMN) last released its quarterly earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.99. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.Garmin’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $1.99 EPS. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. Sell-side analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on GRMN. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report 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. Tigress Financial boosted their target price on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 30th. Morgan Stanley increased their target price on Garmin from $193.00 to $195.00 and gave the company an “underweight” rating in a report on Thursday, October 30th. Finally, Barclays upped their price target on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $241.60.

Institutional Trading of Garmin

A number of institutional investors and hedge funds have recently made changes to their positions in GRMN. Quaker Wealth Management LLC boosted its position in Garmin by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares during the period. Groupe la Francaise acquired a new stake in shares of Garmin in the first quarter worth $33,000. Richardson Financial Services Inc. boosted its holdings in shares of Garmin by 62.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 51 shares during the period. Cornerstone Planning Group LLC grew its stake in Garmin by 788.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock valued at $39,000 after buying an additional 142 shares during the last quarter. Finally, Tradewinds Capital Management LLC bought a new position in Garmin in the 3rd quarter worth $44,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Company Profile

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.