BNC Wealth Management LLC Purchases 1,424 Shares of Garmin Ltd. (NYSE:GRMN)

BNC Wealth Management LLC lifted its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,066 shares of the scientific and technical instruments company's stock after acquiring an additional 1,424 shares during the period. Garmin makes up 1.6% of BNC Wealth Management LLC's portfolio, making the stock its 21st largest holding. BNC Wealth Management LLC's holdings in Garmin were worth $4,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GRMN. American Century Companies Inc. grew its stake in shares of Garmin by 5.9% in the second quarter. American Century Companies Inc. now owns 47,349 shares of the scientific and technical instruments company's stock worth $7,714,000 after acquiring an additional 2,651 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Garmin by 8.4% in the second quarter. Envestnet Asset Management Inc. now owns 163,517 shares of the scientific and technical instruments company's stock worth $26,640,000 after acquiring an additional 12,616 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Garmin by 13.1% in the second quarter. Blair William & Co. IL now owns 5,592 shares of the scientific and technical instruments company's stock worth $911,000 after acquiring an additional 649 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Garmin by 5.8% in the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company's stock worth $248,000 after acquiring an additional 83 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Garmin by 16.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 34,869 shares of the scientific and technical instruments company's stock worth $5,681,000 after buying an additional 4,895 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Stock Performance

Shares of NYSE:GRMN traded up $0.94 on Friday, hitting $215.50. The stock had a trading volume of 746,938 shares, compared to its average volume of 652,053. Garmin Ltd. has a twelve month low of $119.15 and a twelve month high of $222.97. The firm's 50 day moving average price is $211.45 and its 200-day moving average price is $187.48. The company has a market capitalization of $41.38 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98.

Garmin (NYSE:GRMN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.46 by $0.53. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The firm's revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, sell-side analysts predict that Garmin Ltd. will post 7.01 EPS for the current year.

Insider Activity

In related news, Director Sean Biddlecombe sold 587 shares of Garmin 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 completion of the transaction, the director now directly owns 6,147 shares of the company's stock, valued at $1,291,484.70. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Douglas G. Boessen sold 1,761 shares of Garmin stock in a transaction dated Friday, December 20th. The shares were 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 of the company's stock, valued at $5,743,019.88. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GRMN has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Garmin from $133.00 to $158.00 and gave the stock an "underweight" rating in a research note on Friday, November 1st. Tigress Financial lifted their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a "strong-buy" rating in a research note on Monday, December 16th. Finally, Morgan Stanley downgraded shares of Garmin from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $171.00.

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.