Edgestream Partners L.P. Purchases Shares of 22,493 Garmin Ltd. $GRMN

Edgestream Partners L.P. purchased a new position in Garmin Ltd. (NYSE:GRMN) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 22,493 shares of the scientific and technical instruments company’s stock, valued at approximately $4,695,000.

Several other hedge funds have also recently modified their holdings of the stock. Quaker Wealth Management LLC boosted its stake in Garmin by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after purchasing an additional 264 shares in the last quarter. Groupe la Francaise purchased a new position in shares of Garmin in the first quarter worth $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Garmin during the first quarter worth $38,000. SOA Wealth Advisors LLC. grew its holdings in shares of Garmin by 27.5% during the second quarter. SOA Wealth Advisors LLC. now owns 269 shares of the scientific and technical instruments company’s stock valued at $56,000 after buying an additional 58 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Garmin by 31.8% during the first quarter. Harbour Investments Inc. now owns 265 shares of the scientific and technical instruments company’s stock valued at $58,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.

Garmin Stock Performance

NYSE GRMN opened at $197.32 on Wednesday. The firm has a market capitalization of $37.95 billion, a P/E ratio of 24.30, a PEG ratio of 2.23 and a beta of 1.01. The stock has a 50-day simple moving average of $224.55 and a two-hundred day simple moving average of $222.28. Garmin Ltd. has a fifty-two week low of $169.26 and a fifty-two week high of $261.69.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 29th. The scientific and technical instruments company reported $1.99 EPS for the quarter, hitting the consensus estimate of $1.99. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.78 billion. Garmin had a return on equity of 19.42% and a net margin of 22.63%.Garmin’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $1.99 earnings per share. Garmin has set its FY 2025 guidance at 8.150-8.150 EPS. As a group, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

GRMN has been the subject of a number of research analyst reports. Tigress Financial raised their target price on Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 30th. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Wednesday, October 8th. Morgan Stanley lifted their target price on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a report on Thursday, October 30th. Finally, Barclays upped their target price on Garmin from $167.00 to $208.00 and gave the company an “underweight” rating in a research report on Thursday, October 30th. 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 MarketBeat.com, Garmin has a consensus rating of “Hold” and an average target price of $239.50.

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.