Banque Cantonale Vaudoise Purchases 2,465 Shares of Garmin Ltd. $GRMN

Banque Cantonale Vaudoise boosted its position in Garmin Ltd. (NYSE:GRMN) by 150.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,103 shares of the scientific and technical instruments company’s stock after buying an additional 2,465 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Garmin were worth $953,000 as of its most recent filing with the SEC.

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

Insider Activity at Garmin

In related news, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the sale, the director owned 21,277 shares in the company, valued at approximately $5,607,978.89. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 2,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer directly 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. 15.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted 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. Tigress Financial raised their price objective on Garmin from $320.00 to $325.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 20th. Zacks Research downgraded Garmin from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Morgan Stanley set a $249.00 target price on Garmin in a report on Thursday, April 30th. Finally, Barclays reduced their price target on Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Garmin presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.40.

Garmin Price Performance

Shares of GRMN opened at $233.02 on Friday. The firm has a 50-day moving average of $241.80 and a 200-day moving average of $229.52. Garmin Ltd. has a one year low of $186.67 and a one year high of $273.32. The company 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.

Garmin (NYSE:GRMN) last issued its earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.24. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm earned $1.61 EPS. Garmin’s quarterly 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. Analysts expect that Garmin Ltd. will post 9.53 earnings per share for the current year.

Garmin Profile

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.