Garmin Ltd. (NYSE:GRMN) Shares Purchased by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. raised its stake in Garmin Ltd. (NYSE:GRMNFree Report) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,863 shares of the scientific and technical instruments company’s stock after acquiring an additional 49 shares during the period. Geneos Wealth Management Inc.’s holdings in Garmin were worth $591,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board boosted its position in Garmin by 71.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 5,982 shares of the scientific and technical instruments company’s stock valued at $975,000 after purchasing an additional 2,487 shares during the period. Scientech Research LLC acquired a new position in shares of Garmin during the second quarter valued at $337,000. Algert Global LLC acquired a new position in shares of Garmin during the second quarter valued at $508,000. Creative Planning grew its position in shares of Garmin by 7.6% during the second quarter. Creative Planning now owns 33,492 shares of the scientific and technical instruments company’s stock worth $5,456,000 after acquiring an additional 2,380 shares during the last quarter. Finally, Magnolia Capital Advisors LLC bought a new stake in Garmin in the 2nd quarter valued at about $595,000. 81.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GRMN. Tigress Financial upped their target price on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Barclays increased their price objective on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $155.00 to $138.00 in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $171.00.

Get Our Latest Report on GRMN

Insider Buying and Selling

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

Garmin Price Performance

NYSE GRMN opened at $217.59 on Wednesday. Garmin Ltd. has a 12 month low of $119.15 and a 12 month high of $222.97. The firm has a market capitalization of $41.78 billion, a PE ratio of 27.61, a P/E/G ratio of 1.31 and a beta of 0.98. The company’s 50 day simple moving average is $211.97 and its 200 day simple moving average is $189.72.

Garmin (NYSE:GRMNGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period last year, the firm earned $1.41 EPS. Sell-side analysts anticipate that Garmin Ltd. will post 7.01 earnings per share for the current fiscal year.

Garmin Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GRMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Garmin Ltd. (NYSE:GRMNFree Report).

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.