GAM Holding AG Acquires Shares of 4,316 Garmin Ltd. $GRMN

GAM Holding AG acquired a new stake in Garmin Ltd. (NYSE:GRMN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,316 shares of the scientific and technical instruments company’s stock, valued at approximately $901,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GRMN. Kestra Private Wealth Services LLC increased its stake in shares of Garmin by 18.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 8,559 shares of the scientific and technical instruments company’s stock worth $1,858,000 after acquiring an additional 1,347 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in Garmin by 23.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,304 shares of the scientific and technical instruments company’s stock worth $500,000 after purchasing an additional 437 shares during the last quarter. Nordea Investment Management AB increased its position in Garmin by 47.8% during the second quarter. Nordea Investment Management AB now owns 78,525 shares of the scientific and technical instruments company’s stock worth $16,266,000 after purchasing an additional 25,410 shares during the last quarter. First Hawaiian Bank acquired a new stake in Garmin during the first quarter worth about $1,649,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Garmin by 7.2% during the 1st quarter. Acadian Asset Management LLC now owns 75,428 shares of the scientific and technical instruments company’s stock worth $16,368,000 after buying an additional 5,089 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Garmin from $167.00 to $208.00 and gave the stock an “underweight” rating in a report on Thursday. Tigress Financial raised their target price on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley raised their price objective on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $239.50.

Garmin Trading Down 0.5%

Shares of NYSE GRMN opened at $213.96 on Friday. Garmin Ltd. has a twelve month low of $169.26 and a twelve month high of $261.69. The stock has a fifty day simple moving average of $242.32 and a 200-day simple moving average of $221.46. The stock has a market capitalization of $41.19 billion, a PE ratio of 26.35, a PEG ratio of 2.41 and a beta of 0.98.

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

Insider Buying and Selling at Garmin

In related news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the transaction, the insider owned 36,092 shares in the company, valued at approximately $8,390,668.16. The trade was a 22.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.38% of the company’s stock.

Garmin 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.