Garmin Ltd. (GRMN, Financial) experienced a significant stock movement as its shares dropped by 2.44%. The stock is currently priced at $199.91, with a trading volume of 865,479 shares and a turnover rate of 0.45%. The stock's volatility is marked by a 2.07% fluctuation.
Recent financial reports indicate Garmin achieved a revenue of $1.507 billion, with a net profit of $301 million, translating to an earnings per share (EPS) of $1.57. The company's gross profit stood at $863 million, reflecting a price-to-earnings (P/E) ratio of 25.49.
In terms of institutional recommendations, out of 10 firms, 60% suggest holding the stock while the remaining 40% recommend selling, with no institutions advising a buy.
Within the broader technology instruments sector, which saw an overall decline of 0.33%, several stocks showed notable performance. Vontier Corporation and Wrap Technologies showcased significant gains, while stocks like Cepton Inc C/Wts, Saverone 2014 Ltd, and Know Labs, Inc. exhibited considerable price swings with amplitudes of 16.38%, 12.62%, and 10.09% respectively.
Garmin specializes in manufacturing GPS-enabled hardware and software across five verticals: fitness, outdoor, automotive, aviation, and marine. The company provides niche-specific devices, such as those for diving or sailing, and operates across 100 countries through distributors and original equipment manufacturer (OEM) partnerships.
