Cynosure Group LLC Takes $493,000 Position in Garmin Ltd. $GRMN

Cynosure Group LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,430 shares of the scientific and technical instruments company’s stock, valued at approximately $493,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GRMN. Norges Bank bought a new position in shares of Garmin during the 4th quarter valued at $395,234,000. Alliancebernstein L.P. grew its holdings in shares of Garmin by 649.2% during the 3rd quarter. Alliancebernstein L.P. now owns 1,256,668 shares of the scientific and technical instruments company’s stock valued at $309,417,000 after purchasing an additional 1,088,938 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Garmin during the 4th quarter valued at $214,382,000. Vanguard Group Inc. grew its holdings in shares of Garmin by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,197,564 shares of the scientific and technical instruments company’s stock valued at $4,973,044,000 after purchasing an additional 499,235 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of Garmin during the 4th quarter valued at $68,106,000. Institutional investors own 81.60% of the company’s stock.

Analyst Ratings Changes

GRMN has been the topic of several recent research reports. Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 20th. Barclays reduced their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Wall Street Zen raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Zacks Research lowered shares of Garmin from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Morgan Stanley set a $249.00 target price on shares of Garmin in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Garmin has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Trading Down 1.1%

Shares of GRMN opened at $235.45 on Wednesday. The firm’s 50-day moving average price is $245.00 and its 200-day moving average price is $227.66. The firm has a market capitalization of $45.41 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 2.81 and a beta of 0.91. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $273.32.

Garmin (NYSE:GRMN) last announced 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. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts forecast that Garmin Ltd. will post 9.53 EPS for the current fiscal year.

Insider Transactions at Garmin

In other news, Director Joseph J. Hartnett sold 643 shares of Garmin stock in a transaction dated Tuesday, June 9th. The shares were 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 of the company’s stock, valued at approximately $5,607,978.89. The trade was a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Douglas G. Boessen sold 2,000 shares of Garmin stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $237.91, for a total transaction of $475,820.00. Following the sale, the chief financial officer directly owned 26,049 shares in the company, valued at $6,197,317.59. The trade was a 7.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 19.54% of the company’s stock.

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.