Edgestream Partners L.P. Cuts Stake in OSI Systems, Inc. (NASDAQ:OSIS)

Edgestream Partners L.P. lowered its position in OSI Systems, Inc. (NASDAQ:OSIS) by 70.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,006 shares of the technology company’s stock after selling 23,325 shares during the period. Edgestream Partners L.P.’s holdings in OSI Systems were worth $1,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its stake in shares of OSI Systems by 0.9% during the third quarter. State Street Corp now owns 727,690 shares of the technology company’s stock valued at $110,485,000 after purchasing an additional 6,514 shares during the period. Park Avenue Securities LLC boosted its stake in shares of OSI Systems by 36.0% during the fourth quarter. Park Avenue Securities LLC now owns 6,275 shares of the technology company’s stock valued at $1,051,000 after purchasing an additional 1,660 shares during the period. Victory Capital Management Inc. boosted its stake in shares of OSI Systems by 25.8% during the third quarter. Victory Capital Management Inc. now owns 123,213 shares of the technology company’s stock valued at $18,707,000 after purchasing an additional 25,262 shares during the period. HighTower Advisors LLC purchased a new stake in shares of OSI Systems during the third quarter valued at approximately $443,000. Finally, Citigroup Inc. boosted its stake in shares of OSI Systems by 64.9% during the third quarter. Citigroup Inc. now owns 27,320 shares of the technology company’s stock valued at $4,148,000 after purchasing an additional 10,753 shares during the period. Hedge funds and other institutional investors own 89.21% of the company’s stock.

OSI Systems Price Performance

Shares of OSI Systems stock opened at $180.52 on Tuesday. The business has a 50 day moving average of $188.16 and a 200 day moving average of $166.56. The company has a quick ratio of 1.25, a current ratio of 1.88 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.03 billion, a PE ratio of 23.23, a P/E/G ratio of 1.81 and a beta of 1.20. OSI Systems, Inc. has a 52 week low of $126.57 and a 52 week high of $220.00.

OSI Systems (NASDAQ:OSIS) last posted its quarterly earnings data on Thursday, January 23rd. The technology company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.08. OSI Systems had a return on equity of 18.22% and a net margin of 8.15%. As a group, equities research analysts forecast that OSI Systems, Inc. will post 9.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OSIS shares. B. Riley increased their price objective on OSI Systems from $180.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. initiated coverage on OSI Systems in a report on Friday, February 21st. They set a “neutral” rating and a $225.00 target price for the company. Wells Fargo & Company upped their target price on OSI Systems from $172.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. StockNews.com downgraded OSI Systems from a “hold” rating to a “sell” rating in a report on Wednesday, February 26th. Finally, Roth Mkm upped their target price on OSI Systems from $178.00 to $224.00 and gave the company a “buy” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, OSI Systems has an average rating of “Moderate Buy” and an average price target of $212.00.

Insiders Place Their Bets

In other OSI Systems news, insider Manoocher M. Aliabadi sold 2,509 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $180.02, for a total value of $451,670.18. Following the completion of the transaction, the insider now owns 78,094 shares in the company, valued at approximately $14,058,481.88. This represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Keith Morben sold 155 shares of OSI Systems stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $199.36, for a total value of $30,900.80. Following the completion of the transaction, the insider now directly owns 10,077 shares of the company’s stock, valued at approximately $2,008,950.72. This represents a 1.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,719 shares of company stock worth $5,208,248. 5.20% of the stock is owned by corporate insiders.

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.