Garmin (GRMN) Expands Smartwatch Portfolio With epix Launch

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In a bid to bolster the adventure watch portfolio, Garmin GRMN has introduced a premium multisport smartwatch, epix.

The watch features a bright AMOLED display and offers up to 16 days of battery life. Further, it features multi-band frequency and multi-GNSS support for better and more accurate GPS positioning.

The watch sends smart notifications for incoming calls, text messages, social media updates, calendar reminders and more.

Furthermore, epix offers 24/7 health monitoring, activity tracking and advanced training features along with smart notifications.

To be precise, the underlined watch monitors wrist-based heart rate, respiration and Body-Battery energy. Further, it tracks stress levels and advanced sleep. The watch also provides sleep scores and insights.

Additionally, it is well-equipped to coach runners with the help of customized training plans from Garmin Coach. It offers training features like PacePro and Real-Time Stamina.

Notably, PacePro maintains a runner’s pacing strategy on track with grade-adjusted guidance. Real-Time Stamina helps in avoiding burnout by tracking and managing exertion.

Apart from these, epix is synchronized with Garmin Pay to deliver a contactless payment experience to users.

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Garmin Ltd. Price and Consensus

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

Expanding Smartwatch Portfolio

The latest move expands Garmin’s smartwatch portfolio.

Apart from epix, the company recently launched Venu 2 Plus — a GPS smartwatch. The watch contains robust health, wellness and fitness features like heart rate monitoring, stress tracking, energy monitoring and Pulse Ox1, offering 24/7 health monitoring. Further, the watch provides a sleep score, with insights from Firstbeat Analytics. Venu 2 Plus also monitors women’s health by tracking menstrual cycle and pregnancy efficiently.

The company announced the next generation of its flagship solar-enhanced multisport GPS smartwatch — f??nix 7 Series. It features a new touchscreen design plus button controls, advanced training tools, solar-enhanced models and a built-in flashlight.

Furthermore, the company rolled out a vívomove Sport hybrid smartwatch with real ticking watch hands. The watch features robust health and wellness tools, including Body-Battery energy monitoring, all-day stress tracking and advanced sleep monitoring. Also, it comprises built-in sports apps with connected GPS.

Bottom Line

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The abovementioned endeavors bode well for the company’s growing efforts toward strengthening its outdoor and fitness segments, which have become its integral parts.

Notably, the outdoor segment accounted for 27% of the 2020 revenues of the company. Further, the fitness segment contributed 31% to the total revenues in 2020.

We believe that expanding smartwatch and wearable offerings will continue to aid the company in increasing its reach to sports enthusiasts and fitness-conscious customers. This, in turn, will likely contribute well to Garmin’s top-line growth in the near term.

Zacks Rank & Stocks to Consider

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

Investors interested in the broader technology sector can consider better-ranked stocks like Advanced Micro Devices AMD, Mimecast Limited MIME and Trimble TRMB, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Advanced Micro Devices has gained 48.7% over a year. The long-term earnings growth rate for AMD is currently projected at 46.2%.

Mimecast has gained 78.4% over a year. The long-term earnings growth rate for MIME is currently projected at 35%.

Trimble has gained 4.7% over a year. The long-term earnings growth rate for TRMB is currently projected at 14%.

Global Tech News Daily


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Advanced Micro Devices, Inc. (AMD): Free Stock Analysis Report

 

Garmin Ltd. (GRMN): Free Stock Analysis Report

 

Trimble Inc. (TRMB): Free Stock Analysis Report

 

Mimecast Limited (MIME): Free Stock Analysis Report

 

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