OSI Systems (NASDAQ:OSIS) Shares Down 6.8% – Here’s Why

OSI Systems, Inc. (NASDAQ:OSIS)’s share price fell 6.8% on Wednesday . The stock traded as low as $218.47 and last traded at $212.27. 53,052 shares traded hands during trading, a decline of 72% from the average session volume of 192,834 shares. The stock had previously closed at $227.73.

Analyst Ratings Changes

Several research firms recently weighed in on OSIS. JPMorgan Chase & Co. began coverage on shares of OSI Systems in a report on Friday, February 21st. They set a “neutral” rating and a $225.00 price target on the stock. B. Riley restated a “buy” rating and set a $255.00 price target (up from $221.00) on shares of OSI Systems in a report on Friday, May 2nd. Oppenheimer lifted their price objective on shares of OSI Systems from $225.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Roth Mkm lifted their price objective on shares of OSI Systems from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, Wall Street Zen raised shares of OSI Systems from a “sell” rating to a “hold” rating in a research report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, OSI Systems has a consensus rating of “Moderate Buy” and a consensus target price of $228.33.

OSI Systems Stock Down 5.2%

The stock’s fifty day moving average is $205.32 and its two-hundred day moving average is $190.03. The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 0.56. The firm has a market cap of $3.63 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28.

OSI Systems (NASDAQ:OSIS) last posted its earnings results on Thursday, May 1st. The technology company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $444.35 million for the quarter, compared to analyst estimates of $436.49 million. OSI Systems had a net margin of 8.15% and a return on equity of 18.22%. OSI Systems’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 EPS. As a group, research analysts anticipate that OSI Systems, Inc. will post 9.22 earnings per share for the current year.

Insider Buying and Selling

In other news, Director William Francis Ballhaus, Jr. sold 750 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $228.88, for a total value of $171,660.00. Following the transaction, the director now owns 24,055 shares of the company’s stock, valued at $5,505,708.40. This represents a 3.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Glenn Grindstaff sold 688 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $224.89, for a total transaction of $154,724.32. Following the completion of the transaction, the insider now directly owns 8,354 shares in the company, valued at $1,878,731.06. The trade was a 7.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,371 shares of company stock valued at $9,547,230. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On OSI Systems

Several institutional investors and hedge funds have recently made changes to their positions in OSIS. Aster Capital Management DIFC Ltd bought a new position in shares of OSI Systems during the 4th quarter valued at $25,000. Richardson Financial Services Inc. grew its holdings in shares of OSI Systems by 65.6% during the 4th quarter. Richardson Financial Services Inc. now owns 154 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of OSI Systems by 118.2% during the 1st quarter. National Bank of Canada FI now owns 144 shares of the technology company’s stock valued at $28,000 after purchasing an additional 78 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of OSI Systems by 139.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 194 shares of the technology company’s stock valued at $38,000 after purchasing an additional 113 shares during the last quarter. Finally, Virtus Advisers LLC purchased a new stake in OSI Systems during the 1st quarter valued at $43,000. Institutional investors own 89.21% of the company’s stock.

OSI Systems Company 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.