Cynosure Group LLC Purchases New Position in Garmin Ltd. $GRMN

Cynosure Group LLC purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,430 shares of the scientific and technical instruments company’s stock, valued at approximately $493,000.

Other institutional investors also recently modified their holdings of the company. Atlas Capital Advisors Inc. purchased a new stake in shares of Garmin during the 4th quarter valued at approximately $34,000. Torren Management LLC purchased a new stake in Garmin in the 4th quarter worth approximately $41,000. GraniteShares Advisors LLC purchased a new stake in Garmin in the 4th quarter worth approximately $41,000. Itau Unibanco Holding S.A. lifted its stake in Garmin by 23.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 53 shares in the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in Garmin in the 4th quarter worth approximately $60,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Stock Performance

Garmin stock opened at $235.45 on Wednesday. The firm’s fifty day moving average price is $245.00 and its 200-day moving average price is $227.66. The stock has a market cap of $45.41 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 2.81 and a beta of 0.91. Garmin Ltd. has a fifty-two week low of $186.67 and a fifty-two week high of $273.32.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, analysts predict that Garmin Ltd. will post 9.53 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley set a $249.00 target price on shares of Garmin in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, May 20th. Barclays lowered their target price on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $269.40.

Insider Buying and Selling at Garmin

In other news, 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 transaction of $475,820.00. Following the sale, the chief financial officer owned 26,049 shares in the company, valued at approximately $6,197,317.59. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph J. Hartnett sold 643 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $5,607,978.89. This trade represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 19.54% of the company’s stock.

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.