1,692 Shares in Garmin Ltd. (NYSE:GRMN) Acquired by Kaizen Financial Strategies

Kaizen Financial Strategies bought a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,692 shares of the scientific and technical instruments company's stock, valued at approximately $367,000.

Several other hedge funds also recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of Garmin by 7.3% during the 1st quarter. Rhumbline Advisers now owns 333,558 shares of the scientific and technical instruments company's stock worth $72,425,000 after acquiring an additional 22,678 shares during the period. Fifth Third Wealth Advisors LLC increased its position in Garmin by 15.7% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,234 shares of the scientific and technical instruments company's stock worth $268,000 after purchasing an additional 167 shares during the last quarter. Parallel Advisors LLC raised its stake in Garmin by 6.5% during the first quarter. Parallel Advisors LLC now owns 5,410 shares of the scientific and technical instruments company's stock worth $1,175,000 after purchasing an additional 332 shares during the period. Summit Global Investments purchased a new position in Garmin during the first quarter worth approximately $681,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Garmin by 25,047.9% in the 1st quarter. GAMMA Investing LLC now owns 885,456 shares of the scientific and technical instruments company's stock valued at $192,259,000 after purchasing an additional 881,935 shares during the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Susan Lyman sold 2,829 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the transaction, the vice president now owns 8,432 shares in the company, valued at $1,817,180.32. This represents a 25.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 15.38% of the company's stock.

Garmin Price Performance

Shares of NYSE:GRMN traded up $1.68 during trading on Tuesday, reaching $204.63. 776,301 shares of the company's stock traded hands, compared to its average volume of 882,779. The stock has a market capitalization of $39.40 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a 12 month low of $158.38 and a 12 month high of $246.50. The company has a 50 day moving average of $196.25 and a 200-day moving average of $208.12.

Garmin (NYSE:GRMN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.01). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. Garmin's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 earnings per share. Equities research analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GRMN shares. Morgan Stanley boosted their price target on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Tigress Financial lifted their price objective on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Barclays dropped their target price on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Garmin currently has an average rating of "Hold" and an average target price of $206.00.

Garmin 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.