OSI Systems, Inc. (NASDAQ:OSIS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in OSI Systems, Inc. (NASDAQ:OSIS - Free Report) by 17.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,658 shares of the technology company's stock after selling 6,899 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.20% of OSI Systems worth $6,541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in shares of OSI Systems by 243.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 275 shares of the technology company's stock worth $46,000 after purchasing an additional 195 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of OSI Systems by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,052 shares of the technology company's stock worth $35,839,000 after purchasing an additional 3,424 shares during the last quarter. M&T Bank Corp purchased a new position in shares of OSI Systems in the fourth quarter worth about $300,000. Proficio Capital Partners LLC purchased a new position in shares of OSI Systems in the fourth quarter worth about $4,934,000. Finally, Raymond James Financial Inc. purchased a new position in shares of OSI Systems in the fourth quarter worth about $1,840,000. 89.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OSIS shares. Oppenheimer raised their price objective on OSI Systems from $225.00 to $260.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. B. Riley restated a "buy" rating and issued a $255.00 price objective (up from $221.00) on shares of OSI Systems in a research note on Friday, May 2nd. Roth Mkm lifted their price target on OSI Systems from $224.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Wells Fargo & Company reduced their price target on OSI Systems from $220.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Wall Street Zen upgraded 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $228.33.

Insiders Place Their Bets

In other news, Chairman Deepak Chopra sold 20,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $221.79, for a total value of $4,435,800.00. Following the completion of the sale, the chairman directly owned 339,478 shares in the company, valued at $75,292,825.62. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Glenn Grindstaff sold 688 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $224.89, for a total value of $154,724.32. Following the completion of the sale, the insider owned 8,354 shares of the company's stock, valued at $1,878,731.06. This trade represents a 7.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,371 shares of company stock valued at $9,784,380. 5.20% of the stock is owned by insiders.

OSI Systems Stock Performance

OSIS stock traded up $3.02 during trading on Tuesday, hitting $233.83. 202,827 shares of the company traded hands, compared to its average volume of 207,232. The stock's 50-day simple moving average is $224.28 and its 200 day simple moving average is $200.91. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.11 and a quick ratio of 1.38. The company has a market cap of $3.93 billion, a PE ratio of 28.45, a P/E/G ratio of 1.95 and a beta of 1.27. OSI Systems, Inc. has a 1 year low of $129.18 and a 1 year high of $241.64.

OSI Systems (NASDAQ:OSIS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.06. The company had revenue of $444.35 million during the quarter, compared to analysts' expectations of $436.49 million. OSI Systems had a return on equity of 18.37% and a net margin of 8.38%. OSI Systems's quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $2.16 earnings per share. On average, equities analysts expect that OSI Systems, Inc. will post 9.22 earnings per share for the current fiscal year.

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.