Sanctuary Advisors LLC Reduces Stake in Garmin Ltd. (NYSE:GRMN)

Sanctuary Advisors LLC lessened its stake in shares of Garmin Ltd. (NYSE:GRMN) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,579 shares of the scientific and technical instruments company’s stock after selling 160 shares during the period. Sanctuary Advisors LLC’s holdings in Garmin were worth $1,510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of 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 increased its position in shares of Garmin by 578.6% during the 3rd quarter. Larson Financial Group LLC now owns 190 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 162 shares during the last quarter. Family Firm Inc. purchased a new stake in Garmin in the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. lifted its position in Garmin by 73.3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 99 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in Garmin during the third quarter worth about $39,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GRMN has been the topic of several recent analyst reports. StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Tigress Financial raised their price target on Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 16th. Barclays boosted their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Finally, Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $155.00 to $138.00 in a report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Garmin currently has an average rating of “Hold” and an average price target of $171.00.

Insider Buying and Selling at Garmin

In other news, Director Sean Biddlecombe sold 587 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the transaction, the director now owns 6,147 shares in the company, valued at approximately $1,291,484.70. This represents a 8.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 19.54% of the company’s stock.

Garmin Price Performance

GRMN opened at $208.99 on Friday. The business has a fifty day moving average price of $200.02 and a 200 day moving average price of $180.48. Garmin Ltd. has a 12 month low of $119.15 and a 12 month high of $222.97. The stock has a market capitalization of $40.13 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.46 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.53. The business had revenue of $1.59 billion during 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%. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. On average, research analysts anticipate that Garmin Ltd. will post 7.01 earnings per share for the current year.

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.