Coldstream Capital Management Inc. Raises Holdings in Garmin Ltd. (NYSE:GRMN)

Coldstream Capital Management Inc. increased its holdings in Garmin Ltd. (NYSE:GRMN) by 5.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 15,147 shares of the scientific and technical instruments company’s stock after acquiring an additional 759 shares during the period. Coldstream Capital Management Inc.’s holdings in Garmin were worth $2,675,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Garmin in the second quarter worth approximately $31,000. Larson Financial Group LLC boosted its position in shares of 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. Family Firm Inc. purchased a new position in shares of Garmin during the second quarter worth $35,000. Itau Unibanco Holding S.A. purchased a new position in shares of Garmin during the third quarter worth $39,000. Finally, Benjamin Edwards Inc. boosted its position in shares of Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares during the period. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Trading Down 0.0 %

Shares of NYSE GRMN opened at $219.29 on Wednesday. The stock has a market cap of $42.11 billion, a P/E ratio of 27.83, a PEG ratio of 1.44 and a beta of 0.97. Garmin Ltd. has a 12-month low of $119.15 and a 12-month high of $220.78. The business’s fifty day simple moving average is $191.84 and its 200-day simple moving average is $177.56.

Garmin (NYSE:GRMN) last posted its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the firm earned $1.41 earnings per share. Garmin’s quarterly revenue was up 24.1% on a year-over-year basis. On average, equities analysts forecast that Garmin Ltd. will post 7.01 EPS for the current fiscal year.

Insider Buying and Selling at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now directly owns 6,147 shares in the company, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.54% of the stock is owned by insiders.

Analysts Set New Price Targets

GRMN has been the subject of several research analyst reports. Barclays raised 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. Morgan Stanley lowered Garmin from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Tigress Financial raised their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Finally, StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $162.67.

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.