Banque Cantonale Vaudoise Has $953,000 Stock Position in Garmin Ltd. $GRMN

Banque Cantonale Vaudoise raised its stake in Garmin Ltd. (NYSE:GRMN) by 150.5% during the 1st quarter, Holdings Channel reports. The fund owned 4,103 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,465 shares during the period. Banque Cantonale Vaudoise’s holdings in Garmin were worth $953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GRMN. Reflection Asset Management bought a new position in shares of Garmin during the fourth quarter worth approximately $32,000. Atlas Capital Advisors Inc. bought a new stake in Garmin in the 4th quarter valued at $34,000. GraniteShares Advisors LLC bought a new stake in Garmin in the 4th quarter valued at $41,000. Torren Management LLC acquired a new position in Garmin in the 4th quarter valued at $41,000. Finally, SHP Wealth Management acquired a new position in Garmin in the 4th quarter valued at $44,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GRMN shares. Barclays dropped their target price on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Zacks Research downgraded shares of Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. Finally, Wall Street Zen downgraded shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Insider Activity

In other news, CFO Douglas G. Boessen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the sale, the chief financial officer owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total transaction of $169,475.51. Following the sale, the director owned 21,277 shares in the company, valued at $5,607,978.89. This represents a 2.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 15.38% of the company’s stock.

Garmin Price Performance

Garmin stock opened at $233.02 on Friday. The firm has a market cap of $44.94 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 2.75 and a beta of 0.91. The stock’s fifty day moving average price is $241.80 and its two-hundred day moving average price is $229.52. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the company posted $1.61 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. Sell-side analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

About Garmin

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.