Insider Selling: Garmin VP Sells 10,000 Shares of Stock (GRMN)
Garmin (NASDAQ:GRMN) VP Danny J. Bartel sold 10,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $55.52, for a total value of $555,200.00. Following the completion of the transaction, the vice president now directly owns 75,970 shares in the company, valued at approximately $4,217,854. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
GRMN has been the subject of a number of recent research reports. Analysts at Zacks reiterated an “outperform” rating on shares of Garmin in a research note on Thursday, July 31st. They now have a $65.00 price target on the stock. Separately, analysts at Davidson raised their price target on shares of Garmin from $60.00 to $62.00 in a research note on Thursday, July 31st. They now have a “neutral” rating on the stock. Finally, analysts at DA Davidson reiterated a “neutral” rating on shares of Garmin in a research note on Thursday, July 31st. They now have a $60.00 price target on the stock, down previously from $62.00. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $57.17.
Garmin (NASDAQ:GRMN) traded up 0.39% during mid-day trading on Thursday, hitting $55.87. 277,851 shares of the company’s stock traded hands. Garmin has a 52 week low of $37.65 and a 52 week high of $62.05. The stock has a 50-day moving average of $57.4 and a 200-day moving average of $55.20. The company has a market cap of $10.761 billion and a P/E ratio of 16.71.
Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.02 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.76 by $0.26. The company had revenue of $778.00 million for the quarter, compared to the consensus estimate of $709.25 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts predict that Garmin will post $3.07 earnings per share for the current fiscal year.
Garmin Ltd. (NASDAQ:GRMN) is a provider of navigation, communication and information devices and applications, which are enabled by global positioning system (GPS) technology.
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