Garmin (NYSE:GRMN) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Garmin Ltd. (NYSE:GRMN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $183.03 and traded as high as $208.18. Garmin shares last traded at $206.26, with a volume of 496,060 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently commented on GRMN. Tigress Financial lifted their price objective on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research note on Monday, December 16th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Barclays increased their price target on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Finally, Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $155.00 to $138.00 in a report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $171.00.

Garmin Trading Down 0.8 %

The business has a 50 day moving average of $206.91 and a 200-day moving average of $183.19. The firm has a market capitalization of $39.28 billion, a P/E ratio of 25.96, a PEG ratio of 1.46 and a beta of 0.97.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the business posted $1.41 earnings per share. On average, analysts anticipate that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Transactions at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,761 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $207.99, for a total transaction of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total transaction of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.54% of the company’s stock.

Institutional Investors Weigh In On Garmin

Several hedge funds have recently bought and sold shares of GRMN. Rothschild Investment LLC acquired a new stake in shares of Garmin in the second quarter valued at approximately $107,000. Van ECK Associates Corp lifted its holdings in Garmin by 7.9% during the 2nd quarter. Van ECK Associates Corp now owns 26,427 shares of the scientific and technical instruments company’s stock valued at $4,306,000 after purchasing an additional 1,946 shares during the last quarter. Natixis Advisors LLC boosted its position in Garmin by 8.5% during the second quarter. Natixis Advisors LLC now owns 34,170 shares of the scientific and technical instruments company’s stock worth $5,567,000 after purchasing an additional 2,674 shares during the period. Privium Fund Management UK Ltd acquired a new position in shares of Garmin in the second quarter valued at $294,000. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Garmin by 1.2% in the second quarter. Oregon Public Employees Retirement Fund now owns 13,242 shares of the scientific and technical instruments company’s stock valued at $2,157,000 after purchasing an additional 155 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.

About Garmin

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.