Garmin Ltd. (NYSE:GRMN) Shares Purchased by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. grew its position in shares of Garmin Ltd. (NYSE:GRMN) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,863 shares of the scientific and technical instruments company’s stock after acquiring an additional 49 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Garmin were worth $591,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GRMN. Pinnacle Bancorp Inc. purchased a new stake in shares of Garmin during the 4th quarter worth about $29,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Garmin during the second quarter worth approximately $31,000. Larson Financial Group LLC grew its stake in Garmin by 578.6% during the third quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 162 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Garmin in the 3rd quarter valued at $39,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Garmin during the 3rd quarter valued at $59,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GRMN has been the subject of several recent research reports. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. Tigress Financial raised their target price on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, December 16th. Finally, Barclays boosted their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.00.

Garmin Stock Performance

Shares of NYSE GRMN opened at $217.59 on Wednesday. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97. The stock’s 50-day simple moving average is $211.97 and its 200-day simple moving average is $189.72. The firm has a market cap of $41.78 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 1.31 and a beta of 0.98.

Garmin (NYSE:GRMN) last posted its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. Garmin had a return on equity of 17.99% and a net margin of 25.48%. Garmin’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. As a group, research analysts predict that Garmin Ltd. will post 7.01 EPS for the current year.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares in the company, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sean Biddlecombe sold 587 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the sale, the director now directly owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.54% of the company’s stock.

About Garmin

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.