Comerica Bank trimmed its position in shares of OSI Systems, Inc. (NASDAQ:OSIS) by 9.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,602 shares of the technology company’s stock after selling 1,636 shares during the quarter. Comerica Bank owned approximately 0.09% of OSI Systems worth $1,172,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Sun Life Financial INC acquired a new stake in shares of OSI Systems during the second quarter valued at about $121,000. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of OSI Systems during the second quarter valued at about $232,000. Pillar Pacific Capital Management LLC acquired a new stake in shares of OSI Systems during the second quarter valued at about $234,000. First Hawaiian Bank acquired a new stake in shares of OSI Systems during the third quarter valued at about $242,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of OSI Systems during the second quarter valued at about $278,000. 98.66% of the stock is currently owned by hedge funds and other institutional investors.
OSIS has been the topic of a number of recent research reports. B. Riley lifted their price target on OSI Systems from $81.00 to $92.50 and gave the company a “buy” rating in a research note on Friday, August 24th. Roth Capital lifted their price objective on OSI Systems from $77.00 to $89.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research raised OSI Systems from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Tuesday, August 28th. Finally, BidaskClub lowered OSI Systems from a “buy” rating to a “hold” rating in a research note on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $83.38.
OSI Systems stock opened at $72.66 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.70 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.28 billion, a P/E ratio of 20.13, a P/E/G ratio of 1.45 and a beta of 0.97. OSI Systems, Inc. has a one year low of $50.50 and a one year high of $82.94.
OSI Systems (NASDAQ:OSIS) last posted its quarterly earnings data on Thursday, October 25th. The technology company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.20. The company had revenue of $266.25 million for the quarter, compared to analyst estimates of $246.87 million. OSI Systems had a positive return on equity of 14.08% and a negative net margin of 2.72%. During the same period in the previous year, the firm earned $0.79 earnings per share. Equities analysts predict that OSI Systems, Inc. will post 3.9 earnings per share for the current fiscal year.
In other OSI Systems news, insider Malcolm Peter Maginnis sold 552 shares of OSI Systems stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $71.55, for a total value of $39,495.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alan I. Edrick sold 40,000 shares of OSI Systems stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $72.07, for a total value of $2,882,800.00. Following the completion of the sale, the chief financial officer now owns 270,906 shares of the company’s stock, valued at $19,524,195.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,478 shares of company stock worth $5,666,907. 8.60% of the stock is owned by insiders.
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OSI Systems Profile
OSI Systems, Inc designs, manufactures, and sells electronic systems and components worldwide. The company's Security segment offers baggage and parcel inspection, cargo and vehicle inspection, hold baggage and people screening, radiation detection, and explosive and narcotics trace detection systems under the Rapiscan Systems and AS&E names.
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