Millrace Asset Group Inc. Cuts Stake in OSI Systems, Inc. (NASDAQ:OSIS)

Millrace Asset Group Inc. lessened its position in OSI Systems, Inc. (NASDAQ:OSIS) by 15.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,879 shares of the technology company’s stock after selling 2,460 shares during the period. OSI Systems makes up 2.1% of Millrace Asset Group Inc.’s investment portfolio, making the stock its 11th largest holding. Millrace Asset Group Inc. owned 0.08% of OSI Systems worth $2,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in OSI Systems during the second quarter worth $40,000. Cape Investment Advisory Inc. acquired a new position in shares of OSI Systems during the 1st quarter worth $63,000. Innealta Capital LLC purchased a new position in shares of OSI Systems in the 2nd quarter valued at about $82,000. International Assets Investment Management LLC lifted its stake in shares of OSI Systems by 15,075.0% in the third quarter. International Assets Investment Management LLC now owns 607 shares of the technology company’s stock valued at $92,000 after purchasing an additional 603 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in OSI Systems during the second quarter worth about $160,000. Hedge funds and other institutional investors own 89.21% of the company’s stock.

Analyst Ratings Changes

OSIS has been the subject of a number of research analyst reports. Bank of America assumed coverage on shares of OSI Systems in a report on Monday, September 30th. They issued a “buy” rating and a $175.00 target price for the company. StockNews.com downgraded OSI Systems from a “hold” rating to a “sell” rating in a research note on Friday. Wells Fargo & Company boosted their target price on OSI Systems from $170.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Roth Mkm raised their price target on OSI Systems from $172.00 to $178.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, B. Riley boosted their price objective on shares of OSI Systems from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Buying and Selling at OSI Systems

In related news, CEO Deepak Chopra sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $153.42, for a total transaction of $2,301,300.00. Following the transaction, the chief executive officer now owns 424,323 shares of the company’s stock, valued at approximately $65,099,634.66. This represents a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gerald M. Chizever sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $148.16, for a total transaction of $296,320.00. Following the sale, the director now owns 7,701 shares in the company, valued at approximately $1,140,980.16. This trade represents a 20.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,107 shares of company stock worth $6,071,809. Corporate insiders own 5.20% of the company’s stock.

OSI Systems Price Performance

OSIS stock opened at $168.99 on Tuesday. The stock’s 50 day moving average price is $146.62 and its 200 day moving average price is $143.28. The firm has a market cap of $2.82 billion, a P/E ratio of 22.06, a PEG ratio of 1.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.84. OSI Systems, Inc. has a 1 year low of $119.57 and a 1 year high of $170.49.

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 the consensus estimate 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 business’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. On average, sell-side analysts expect that OSI Systems, Inc. will post 9.12 earnings per share for the current fiscal year.

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.