Woodline Partners LP Buys 8,069 Shares of Garmin Ltd. (NYSE:GRMN)

Woodline Partners LP lifted its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 677.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,260 shares of the scientific and technical instruments company's stock after purchasing an additional 8,069 shares during the period. Woodline Partners LP's holdings in Garmin were worth $1,910,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GRMN. Montrusco Bolton Investments Inc. grew its position in shares of Garmin by 42.5% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 431,188 shares of the scientific and technical instruments company's stock worth $88,937,000 after buying an additional 128,672 shares during the last quarter. Baskin Financial Services Inc. lifted its stake in Garmin by 3.2% in the fourth quarter. Baskin Financial Services Inc. now owns 148,957 shares of the scientific and technical instruments company's stock worth $30,724,000 after acquiring an additional 4,616 shares during the period. Savant Capital LLC lifted its stake in Garmin by 47.2% in the fourth quarter. Savant Capital LLC now owns 9,075 shares of the scientific and technical instruments company's stock worth $1,872,000 after acquiring an additional 2,910 shares during the period. Quantbot Technologies LP bought a new stake in Garmin in the fourth quarter valued at $127,000. Finally, BankPlus Wealth Management LLC purchased a new position in Garmin during the 4th quarter valued at $668,000. 81.60% of the stock is owned by institutional investors.

Garmin Trading Down 1.8%

GRMN traded down $3.66 during midday trading on Wednesday, reaching $201.85. The company's stock had a trading volume of 780,174 shares, compared to its average volume of 878,476. The stock's 50-day moving average is $197.25 and its 200-day moving average is $208.40. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50. The firm has a market capitalization of $38.86 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 1.36 and a beta of 0.99.

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

Insider Transactions at Garmin

In related news, VP Susan Lyman sold 2,829 shares of Garmin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the sale, the vice president now directly owns 8,432 shares in the company, valued at approximately $1,817,180.32. This trade represents a 25.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas G. Boessen sold 2,763 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $226.55, for a total transaction of $625,957.65. Following the transaction, the chief financial officer now owns 30,936 shares in the company, valued at $7,008,550.80. This represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,229 shares of company stock worth $2,280,398. Corporate insiders own 19.54% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on GRMN. JPMorgan Chase & Co. dropped their target price on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Tigress Financial raised their price objective on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. Morgan Stanley lifted their price objective on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Finally, Barclays decreased their target price on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock 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.