Principal Financial Group Inc. Cuts Holdings in OSI Systems, Inc. $OSIS

Principal Financial Group Inc. lessened its stake in OSI Systems, Inc. (NASDAQ:OSIS) by 14.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 88,749 shares of the technology company’s stock after selling 14,413 shares during the quarter. Principal Financial Group Inc.’s holdings in OSI Systems were worth $22,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. lifted its position in shares of OSI Systems by 29.6% during the 2nd quarter. Invesco Ltd. now owns 319,258 shares of the technology company’s stock worth $71,788,000 after purchasing an additional 73,004 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in OSI Systems in the second quarter valued at $13,576,000. Mawer Investment Management Ltd. raised its stake in OSI Systems by 11.2% in the second quarter. Mawer Investment Management Ltd. now owns 512,656 shares of the technology company’s stock valued at $115,276,000 after buying an additional 51,634 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in OSI Systems by 267.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 54,438 shares of the technology company’s stock worth $12,241,000 after buying an additional 39,616 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of OSI Systems by 34.7% during the 2nd quarter. Loomis Sayles & Co. L P now owns 129,311 shares of the technology company’s stock worth $29,077,000 after acquiring an additional 33,320 shares in the last quarter. 89.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at OSI Systems

In related news, Director Deepak Chopra sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $250.91, for a total transaction of $5,018,200.00. Following the transaction, the director owned 273,044 shares of the company’s stock, valued at $68,509,470.04. This trade represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 4.30% of the company’s stock.

OSI Systems Stock Performance

Shares of OSIS opened at $271.26 on Friday. The company’s 50 day simple moving average is $269.87 and its 200-day simple moving average is $252.83. The firm has a market cap of $4.47 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.35. OSI Systems, Inc. has a 12-month low of $153.40 and a 12-month high of $294.93. The company has a current ratio of 3.15, a quick ratio of 2.31 and a debt-to-equity ratio of 1.18.

OSI Systems (NASDAQ:OSIS) last issued its quarterly earnings results on Thursday, January 29th. The technology company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.06. OSI Systems had a net margin of 8.52% and a return on equity of 18.58%. The firm had revenue of $464.06 million during the quarter, compared to analysts’ expectations of $449.51 million. During the same quarter in the prior year, the business earned $2.42 EPS. OSI Systems’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts predict that OSI Systems, Inc. will post 9.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OSIS. Bank of America raised their target price on OSI Systems from $265.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. B. Riley Financial raised their price objective on shares of OSI Systems from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Weiss Ratings upgraded shares of OSI Systems from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday. Roth Mkm increased their target price on shares of OSI Systems from $292.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, UBS Group set a $292.00 price target on shares of OSI Systems in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $282.00.

About OSI Systems

OSI Systems, Inc (NASDAQ: OSIS) is a publicly traded technology company founded in 1987 and headquartered in Hawthorne, California. The company designs, develops and manufactures advanced security and inspection systems, optoelectronic devices and medical imaging equipment. Over its history, OSI Systems has grown its product offerings through internal research and development as well as strategic acquisitions, expanding its capabilities in mission-critical sensing and inspection technologies.

OSI Systems operates three primary business segments.