Lord Abbett & CO. LLC Sells 7,782 Shares of OSI Systems, Inc. $OSIS

Key Points

• Lord Abbett & CO. LLC reduced its stake in OSI Systems by 7.8%, selling 7,782 shares to hold 92,372 shares valued at approximately $17.95 million.
• In recent transactions, Directors sold shares of OSI Systems, with notable sales including 750 shares by William Francis Ballhaus, Jr., and 1,000 shares by Meyer Luskin, leading to decreases in their ownership percentages.
• Wall Street analysts have rated OSI Systems favorably, with seven firms assigning a Moderate Buy rating and price targets ranging from $245.00 to $260.00.

Lord Abbett & CO. LLC decreased its holdings in shares of OSI Systems, Inc. (NASDAQ:OSIS - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,372 shares of the technology company's stock after selling 7,782 shares during the quarter. Lord Abbett & CO. LLC owned about 0.55% of OSI Systems worth $17,952,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OSIS. National Bank of Canada FI grew its holdings in OSI Systems by 118.2% during the first quarter. National Bank of Canada FI now owns 144 shares of the technology company's stock valued at $28,000 after purchasing an additional 78 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of OSI Systems by 139.5% in the first quarter. Nisa Investment Advisors LLC now owns 194 shares of the technology company's stock valued at $38,000 after buying an additional 113 shares during the period. Quantessence Capital LLC acquired a new position in shares of OSI Systems in the fourth quarter valued at approximately $231,000. Xponance Inc. acquired a new position in OSI Systems during the first quarter worth $233,000. Finally, Sequoia Financial Advisors LLC acquired a new position in OSI Systems during the first quarter worth $234,000. Institutional investors and hedge funds own 89.21% of the company's stock.

Insider Transactions at OSI Systems

In related news, Director William Francis Ballhaus, Jr. sold 750 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $228.88, for a total transaction of $171,660.00. Following the transaction, the director directly owned 24,055 shares of the company's stock, valued at approximately $5,505,708.40. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Meyer/ Luskin sold 1,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $237.15, for a total transaction of $237,150.00. Following the transaction, the director directly owned 11,214 shares in the company, valued at approximately $2,659,400.10. This represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on OSIS shares. B. Riley restated a "buy" rating and set a $255.00 target price (up previously from $221.00) on shares of OSI Systems in a report on Friday, May 2nd. Roth Mkm increased their target price on shares of OSI Systems from $224.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Oppenheimer upped their price target on shares of OSI Systems from $225.00 to $260.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of OSI Systems from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.33.

OSI Systems Stock Performance

Shares of NASDAQ OSIS traded down $4.31 during mid-day trading on Tuesday, reaching $226.91. 134,992 shares of the company were exchanged, compared to its average volume of 219,551. The company's 50-day simple moving average is $223.61 and its 200-day simple moving average is $211.17. The company has a quick ratio of 1.38, a current ratio of 2.11 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $3.81 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.98 and a beta of 1.31. OSI Systems, Inc. has a twelve month low of $129.84 and a twelve month high of $241.64.

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.