Robertson Stephens Wealth Management LLC Sells 482 Shares of Garmin Ltd. $GRMN

Robertson Stephens Wealth Management LLC lessened its holdings in Garmin Ltd. (NYSE:GRMN) by 15.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,632 shares of the scientific and technical instruments company’s stock after selling 482 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Garmin were worth $549,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Groupe la Francaise purchased a new position in Garmin during the first quarter worth $33,000. TFC Financial Management Inc. boosted its stake in Garmin by 1,633.3% during the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 147 shares during the period. Wayfinding Financial LLC purchased a new position in Garmin during the first quarter worth $34,000. Zions Bancorporation National Association UT purchased a new position in Garmin during the first quarter worth $38,000. Finally, Garde Capital Inc. purchased a new position in Garmin during the first quarter worth $40,000. 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 company’s stock in a transaction dated 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 sale, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. This represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on GRMN shares. Tigress Financial lifted their price objective 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. Morgan Stanley lifted 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. Barclays reaffirmed an “underweight” rating and set a $167.00 price objective (up from $152.00) on shares of Garmin in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $228.75.

Garmin Price Performance

NYSE:GRMN opened at $248.18 on Friday. Garmin Ltd. has a 1-year low of $160.95 and a 1-year high of $261.69. The company has a 50-day moving average of $238.90 and a 200 day moving average of $216.49. The firm has a market cap of $47.77 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 2.72 and a beta of 0.98.

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 for the quarter, topping analysts’ consensus estimates of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. 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 Company 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.