Eventide Asset Management LLC Purchases 51,191 Shares of Garmin Ltd. $GRMN

Eventide Asset Management LLC lifted its stake in Garmin Ltd. (NYSE:GRMN) by 280.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,476 shares of the scientific and technical instruments company’s stock after buying an additional 51,191 shares during the quarter. Eventide Asset Management LLC’s holdings in Garmin were worth $14,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Daymark Wealth Partners LLC raised its stake in shares of Garmin by 0.7% in the fourth quarter. Daymark Wealth Partners LLC now owns 6,813 shares of the scientific and technical instruments company’s stock worth $1,382,000 after buying an additional 48 shares during the period. S.A. Mason LLC raised its stake in shares of Garmin by 2.4% in the fourth quarter. S.A. Mason LLC now owns 2,150 shares of the scientific and technical instruments company’s stock worth $436,000 after buying an additional 50 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Garmin by 1.0% in the third quarter. Quadrant Capital Group LLC now owns 4,917 shares of the scientific and technical instruments company’s stock worth $1,211,000 after buying an additional 51 shares during the period. Wealthcare Advisory Partners LLC raised its stake in shares of Garmin by 0.7% in the third quarter. Wealthcare Advisory Partners LLC now owns 7,724 shares of the scientific and technical instruments company’s stock worth $1,902,000 after buying an additional 53 shares during the period. Finally, Itau Unibanco Holding S.A. raised its stake in shares of Garmin by 23.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 53 shares during the period. Institutional investors own 81.60% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the topic of several recent research reports. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Barclays decreased their price objective on Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Tigress Financial raised their price objective on Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. Wall Street Zen raised Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Morgan Stanley set a $249.00 target price on Garmin in a research 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 issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $269.40.

Garmin Trading Up 0.1%

NYSE:GRMN opened at $238.23 on Monday. Garmin Ltd. has a 12-month low of $186.67 and a 12-month high of $273.32. The stock has a 50-day moving average price of $245.02 and a 200 day moving average price of $227.05. The stock has a market capitalization of $45.95 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.81 and a beta of 0.91.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.72 billion. During the same quarter last year, the business posted $1.61 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, research analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current fiscal year.

Insider Activity

In other Garmin news, Director Joseph J. Hartnett sold 643 shares of the firm’s 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 completion of the transaction, the director owned 21,277 shares in the company, valued at $5,607,978.89. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’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 value of $475,820.00. Following the transaction, the chief financial officer owned 26,049 shares of the company’s stock, valued at $6,197,317.59. This represents a 7.13% decrease in their position. The SEC filing for this sale provides additional information. Company 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.