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Garmin (GRMN) Strengthens Fitness Segment With vivosmart 5

Zacks Equity Research
·4-min read

Garmin GRMN unveiled a smart fitness tracker, the vivosmart 5, featuring an easy-to-use touchscreen, larger display and impressive battery life.

vivosmart 5 provides all types of health monitoring features including 24/7 Elevate heart rate monitoring. It also lets users know about their abnormal high or low heart rates.

Additionally, the smart fitness tracker is enabled with advanced sleep with sleep score, which provides users with the analysis of the quantity and quality of their sleep.

The wearable also keeps a tab on Pulse Ox, respiration, body battery energy levels, all-day stress, hydration and women’s health.

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Further, it is compatible with a smartphone’s GPS for accurately measuring distance, pace and speed during outdoor walks, runs, and bike rides.

With vivosmart 5, users can stay connected with smart notifications via text messages, calendar notifications, social media alerts, news alerts and more.

With the recent launch, Garmin is expected to expand its reach to customers looking for smart fitness tracking devices. This, in turn, is likely to expand its customer base in the upcoming period.

Further, the recent move has expanded Garmin’s portfolio of fitness offerings, thereby adding strength to the fitness segment.

Garmin Ltd. Price and Consensus

Garmin Ltd. Price and Consensus
Garmin Ltd. Price and Consensus

Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote

Fitness Segment in Focus

Garmin has been consistently working toward providing advanced training solutions and enhanced experience to runners, cyclists, swimmers as well as athletes.

Apart from the latest launch, it introduced wireless communication enhancements between Edge cycling computers and SHIMANO Di2 electronic shifting systems to provide a better riding experience to cyclists.

It also introduced the Dexcom Connect IQ apps to help people suffering from Type 1 and Type 2 diabetes. Further, customers can use the Dexcom G6 Continuous Glucose Monitor to check their glucose levels and trends on their Garmin smartwatches or cycling computers while working out.

GRMN also launched the Surfline widget, which is compatible with Garmin smartwatches. The Surfline widget helps surfing enthusiasts check conditions related to the tide, wave height, wind and surf quality rating of their nearest surfing locations.

Such initiatives are expected to contribute to GRMN’s fitness segment’s revenues. The segment generated $470.1 million in sales, accounting for 33.8% of the company’s fourth-quarter 2021 total net sales.

Portfolio Strength

With the introduction of the latest smart fitness tracker, Garmin has bolstered its overall portfolio of offerings.

Apart from the recent move, GRMN introduced a portable golf launch monitor, Approach R10, which is designed to help golfers improve their game at home, indoors or the driving range.

The company also launched products in the Tread series in a bid to provide advanced navigation capabilities to powersport enthusiasts.

Garmin’s brand, Fusion Entertainment, released the MS-RA60 marine stereo and EL Series speaker kit and the MS-RA210 premium marine stereo and XS Series speaker kit. With the help of the latest stereos and speakers, Garmin aims to provide an enhanced entertainment experience to boaters.

Further, Garmin released its Smart Glide technology free of cost for the G3X Touch and G5 electronic flight instrument in certified aircraft equipped with a GTN Xi series navigator.

Zacks Rank & Stocks to Consider

Currently, Garmin carries a Zacks Rank #3 (Hold).

Investors interested in the broader technology sector can consider stocks like Apple AAPL, Broadcom AVGO and Analog Devices ADI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Apple has gained 26.7% in the past year. The long-term earnings growth rate for AAPL is currently projected at 12.5%.

Broadcom has gained 31.4% in the past year. AVGO’s long-term earnings growth rate is currently projected at 14.5%.

Analog Devices has gained 3.9% in the past year. The long-term earnings growth rate for ADI is currently projected at 12.3%.


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