OSI Systems, Inc. (NASDAQ:OSIS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of OSI Systems, Inc. (NASDAQ:OSIS) by 5.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 79,793 shares of the technology company’s stock after selling 4,757 shares during the quarter. Principal Financial Group Inc.’s holdings in OSI Systems were worth $12,115,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in OSIS. Janus Henderson Group PLC raised its stake in shares of OSI Systems by 1.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,249,889 shares of the technology company’s stock worth $178,508,000 after buying an additional 19,683 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of OSI Systems by 10.6% in the second quarter. Hood River Capital Management LLC now owns 316,788 shares of the technology company’s stock valued at $43,565,000 after purchasing an additional 30,464 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of OSI Systems by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 127,544 shares of the technology company’s stock valued at $17,540,000 after purchasing an additional 1,747 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of OSI Systems by 713.1% during the 2nd quarter. Victory Capital Management Inc. now owns 97,951 shares of the technology company’s stock worth $13,470,000 after purchasing an additional 85,904 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of OSI Systems by 24.4% during the 3rd quarter. Van ECK Associates Corp now owns 81,346 shares of the technology company’s stock worth $11,563,000 after purchasing an additional 15,945 shares during the last quarter. 89.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Paul Keith Morben sold 1,107 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $145.04, for a total transaction of $160,559.28. Following the sale, the insider now directly owns 10,077 shares in the company, valued at approximately $1,461,568.08. This trade represents a 9.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gerald M. Chizever sold 2,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $148.16, for a total transaction of $296,320.00. Following the completion of the sale, the director now directly owns 7,701 shares of the company’s stock, valued at $1,140,980.16. This trade represents a 20.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,107 shares of company stock valued at $6,071,809 in the last three months. Corporate insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OSIS shares. B. Riley increased their target price on OSI Systems from $165.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Bank of America began coverage on shares of OSI Systems in a research note on Monday, September 30th. They issued a “buy” rating and a $175.00 target price for the company. Wells Fargo & Company raised their price target on shares of OSI Systems from $170.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Roth Mkm upped their price objective on shares of OSI Systems from $172.00 to $178.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, OSI Systems currently has an average rating of “Moderate Buy” and an average price target of $173.00.

OSI Systems Trading Down 0.8 %

NASDAQ OSIS opened at $150.70 on Monday. The company has a market cap of $2.52 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.30 and a beta of 1.10. OSI Systems, Inc. has a 12 month low of $115.33 and a 12 month high of $158.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.84 and a quick ratio of 1.20. The company has a 50-day moving average of $144.31 and a 200-day moving average of $142.11.

OSI Systems (NASDAQ:OSIS) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.19. OSI Systems had a net margin of 8.31% and a return on equity of 18.17%. The company had revenue of $344.01 million for the quarter, compared to the consensus estimate of $318.66 million. During the same quarter last year, the firm posted $0.91 earnings per share. OSI Systems’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts predict that OSI Systems, Inc. will post 9.12 earnings per share for the current year.

OSI Systems Profile

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.