Lord Abbett & CO. LLC Sells 246 Shares of OSI Systems, Inc. (NASDAQ:OSIS)

Lord Abbett & CO. LLC lessened its position in shares of OSI Systems, Inc. (NASDAQ:OSIS) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,598 shares of the technology company’s stock after selling 246 shares during the quarter. Lord Abbett & CO. LLC’s holdings in OSI Systems were worth $16,944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OSIS. Louisiana State Employees Retirement System boosted its stake in shares of OSI Systems by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the technology company’s stock worth $1,086,000 after acquiring an additional 100 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in OSI Systems by 1.4% during 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 period. Bailard Inc. purchased a new stake in OSI Systems in the second quarter worth about $206,000. Allspring Global Investments Holdings LLC raised its stake in shares of OSI Systems by 20.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 35,119 shares of the technology company’s stock worth $4,830,000 after buying an additional 6,067 shares during the period. Finally, Skylands Capital LLC lifted its position in shares of OSI Systems by 18.0% during the 2nd quarter. Skylands Capital LLC now owns 27,499 shares of the technology company’s stock valued at $3,782,000 after buying an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 89.21% of the company’s stock.

Insider Transactions at OSI Systems

In related news, CFO Alan I. Edrick sold 2,354 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $188.42, for a total value of $443,540.68. Following the transaction, the chief financial officer now owns 312,444 shares of the company’s stock, valued at $58,870,698.48. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Manoocher M. Aliabadi sold 2,509 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $180.02, for a total transaction of $451,670.18. Following the transaction, the insider now directly owns 78,094 shares in the company, valued at approximately $14,058,481.88. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,591 shares of company stock worth $7,557,745. 5.20% of the stock is currently owned by insiders.

OSI Systems Price Performance

OSI Systems stock opened at $181.79 on Monday. OSI Systems, Inc. has a 52-week low of $120.42 and a 52-week high of $189.13. The company has a quick ratio of 1.20, a current ratio of 1.84 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average is $156.12 and its 200 day moving average is $147.30. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.55 and a beta of 1.18.

OSI Systems (NASDAQ:OSIS) last issued its quarterly earnings data on Thursday, October 24th. The technology company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.19. The business had revenue of $344.01 million for the quarter, compared to the consensus estimate of $318.66 million. OSI Systems had a return on equity of 18.17% and a net margin of 8.31%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. Sell-side analysts forecast that OSI Systems, Inc. will post 9.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on OSIS. Roth Mkm raised their target price on shares of OSI Systems from $172.00 to $178.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. B. Riley raised their price objective on shares of OSI Systems from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their target price on shares of OSI Systems from $172.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Bank of America began coverage on OSI Systems in a report on Monday, September 30th. They set a “buy” rating and a $175.00 price target on the stock. Finally, StockNews.com raised OSI Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.00.

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.