Wealthcare Advisory Partners LLC Acquires 121 Shares of Garmin Ltd. $GRMN

Wealthcare Advisory Partners LLC grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,671 shares of the scientific and technical instruments company’s stock after acquiring an additional 121 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Garmin were worth $1,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Groupe la Francaise purchased a new position in Garmin during the first quarter valued at $33,000. TFC Financial Management Inc. lifted its position in shares of Garmin by 1,633.3% during the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 147 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Garmin during the 1st quarter valued at about $34,000. Zions Bancorporation National Association UT bought a new position in shares of Garmin during the 1st quarter valued at approximately $38,000. Finally, Garde Capital Inc. purchased a new stake in Garmin in the 1st quarter worth approximately $40,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was 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 directly owned 36,092 shares in the company, valued at $8,390,668.16. This represents a 22.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 19.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GRMN shares. Tigress Financial raised their target price on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. JPMorgan Chase & Co. increased their price objective on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Morgan Stanley increased their price objective on shares of Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research note on Friday, September 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research note on Saturday, September 27th. Finally, Barclays reissued an “underweight” rating and issued a $167.00 price objective (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $228.75.

Garmin Price Performance

GRMN stock opened at $256.08 on Wednesday. Garmin Ltd. has a 1-year low of $160.95 and a 1-year high of $259.87. The company has a market capitalization of $49.29 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 2.82 and a beta of 0.98. The business has a 50 day simple moving average of $236.78 and a two-hundred day simple moving average of $215.69.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Sell-side analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

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.