10 Best Fitness and Gym Stocks to Buy Now

8. Garmin Ltd. (NASDAQ:GRMN)

Number of Hedge Fund Holders: 30

Garmin Ltd. (NASDAQ:GRMN) is a Switzerland-based company that operates through various segments, including fitness, outdoor, auto, marine, and aviation. It offers a range of applications and products, including golf devices, wearable devices, outdoor handhelds, training/pet obedience devices, dog tracking, and several other products specifically designed for use in fitness and activity tracking.

Its fiscal Q3 2024 earnings reported a 24% growth in consolidated revenue, reaching $1.59 billion and setting a new Q3 record for the company. It also attained record revenue in all of its business segments. The company has managed to consistently deliver strong results for several reasons. There is no single profile of the Garmin customer, and so its results are not correlated to the broad generations of consumer behavior. In addition, the company’s business is global and highly diversified in several segments, each targeting different consumers. This allows Garmin Ltd. (NASDAQ:GRMN) to leverage diverse growth opportunities and gives it a competitive market advantage.

The company’s fitness segment saw a revenue increase of 31% to $464 million in fiscal Q3 2024, with growth in all of its categories and the increased popularity of its advanced wellness products contributing to this growth. Garmin Ltd. (NASDAQ:GRMN) also celebrated the tenth anniversary of Garmin Health in fiscal Q3 2024. Garmin Health leverages its extensive high-quality sensor data and wearable portfolio to support wellness, patient monitoring, and population health. The company ranks eighth on our list of the 10 best fitness and gym stocks to buy now.