Robertson Stephens Wealth Management LLC Reduces Holdings in Garmin Ltd. $GRMN

Robertson Stephens Wealth Management LLC decreased its holdings in Garmin Ltd. (NYSE:GRMN) by 15.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,632 shares of the scientific and technical instruments company’s stock after selling 482 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Garmin were worth $549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fulton Bank N.A. boosted its holdings in shares of Garmin by 2.6% in the second quarter. Fulton Bank N.A. now owns 1,883 shares of the scientific and technical instruments company’s stock worth $393,000 after buying an additional 47 shares during the last quarter. Arrow Investment Advisors LLC boosted its holdings in shares of Garmin by 3.6% in the second quarter. Arrow Investment Advisors LLC now owns 1,412 shares of the scientific and technical instruments company’s stock worth $295,000 after buying an additional 49 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Garmin by 7.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the scientific and technical instruments company’s stock worth $163,000 after buying an additional 52 shares during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of Garmin by 27.5% in the second quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock worth $56,000 after buying an additional 58 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in shares of Garmin by 31.8% in the first quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock worth $58,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.

Insiders Place Their Bets

In related news, insider Cheng-Wei Wang sold 10,202 shares of the business’s stock in a transaction 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 sale, 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. Corporate insiders own 15.38% of the company’s stock.

Wall Street Analyst Weigh In

GRMN has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Tigress Financial lifted their price target on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 30th. Barclays reaffirmed an “underweight” rating and set a $167.00 price target (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Morgan Stanley lifted their price target on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, September 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $228.75.

Garmin Price Performance

Garmin stock opened at $248.18 on Friday. The stock has a market cap of $47.77 billion, a P/E ratio of 30.60, a PEG ratio of 2.72 and a beta of 0.98. Garmin Ltd. has a 1 year low of $160.95 and a 1 year high of $261.69. The firm’s 50 day moving average price is $238.90 and its 200-day moving average price is $216.49.

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