Renaissance Technologies LLC Acquires 11,400 Shares of OSI Systems, Inc. (NASDAQ:OSIS)

Renaissance Technologies LLC raised its stake in shares of OSI Systems, Inc. (NASDAQ:OSIS) by 79.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,683 shares of the technology company’s stock after purchasing an additional 11,400 shares during the quarter. Renaissance Technologies LLC owned 0.15% of OSI Systems worth $3,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. West Paces Advisors Inc. purchased a new position in OSI Systems in the first quarter worth $28,000. Quest Partners LLC bought a new stake in OSI Systems during the second quarter worth about $40,000. Cape Investment Advisory Inc. purchased a new position in shares of OSI Systems in the 1st quarter worth about $63,000. Covestor Ltd increased its position in shares of OSI Systems by 48,000.0% during the 1st quarter. Covestor Ltd now owns 481 shares of the technology company’s stock valued at $69,000 after purchasing an additional 480 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of OSI Systems during the 2nd quarter valued at about $82,000. Hedge funds and other institutional investors own 89.21% of the company’s stock.

Insider Buying and Selling

In other OSI Systems news, CEO Deepak Chopra sold 20,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $144.92, for a total value of $2,898,400.00. Following the completion of the sale, the chief executive officer now owns 459,033 shares in the company, valued at approximately $66,523,062.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Deepak Chopra sold 20,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $144.92, for a total value of $2,898,400.00. Following the completion of the transaction, the chief executive officer now owns 459,033 shares of the company’s stock, valued at approximately $66,523,062.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald M. Chizever sold 3,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $138.41, for a total value of $415,230.00. Following the completion of the transaction, the director now owns 3,462 shares of the company’s stock, valued at approximately $479,175.42. The disclosure for this sale can be found here. Insiders have sold 24,107 shares of company stock valued at $3,474,189 over the last ninety days. 5.60% of the stock is owned by insiders.

OSI Systems Stock Performance

Shares of OSIS stock opened at $145.39 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.49. OSI Systems, Inc. has a fifty-two week low of $103.04 and a fifty-two week high of $158.69. The company has a market capitalization of $2.41 billion, a P/E ratio of 20.00, a PEG ratio of 1.50 and a beta of 1.08. The stock has a 50 day moving average price of $144.30 and a two-hundred day moving average price of $140.37.

OSI Systems (NASDAQ:OSIS) last announced its quarterly earnings results on Thursday, August 22nd. The technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.05. OSI Systems had a net margin of 8.33% and a return on equity of 17.80%. The business had revenue of $480.91 million during the quarter, compared to analysts’ expectations of $467.24 million. During the same quarter in the prior year, the company posted $2.66 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts expect that OSI Systems, Inc. will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company began coverage on OSI Systems in a research note on Wednesday, September 18th. They issued an “overweight” rating and a $170.00 target price for the company. B. Riley increased their target price on shares of OSI Systems from $165.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Roth Mkm boosted their price target on shares of OSI Systems from $172.00 to $178.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $172.00.

About OSI Systems

OSI Systems, Inc designs and manufactures electronic systems and components. It operates in three segments: Security, Healthcare, and Optoelectronics and Manufacturing. The Security segment offers baggage and parcel inspection, cargo and vehicle inspection, hold baggage and people screening, radiation monitoring, explosive and narcotics trace detection systems, and optical inspection systems under the Rapiscan name.