OSI Systems, Inc. (NASDAQ:OSIS) Shares Sold by Bryce Point Capital LLC

Key Points

• Bryce Point Capital LLC reduced its holdings in OSI Systems by 30.8% during the first quarter, now owning 3,913 shares valued at $787,000.
• OSI Systems reported earnings per share (EPS) of $2.44 for the recent quarter, surpassing estimates and achieving a 9.5% increase in revenue year-over-year.
• Wall Street analysts have upgraded their outlook for OSI Systems, with investment firms raising price targets and maintaining a “buy” rating for the stock.

Bryce Point Capital LLC cut its stake in shares of OSI Systems, Inc. (NASDAQ:OSIS - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,913 shares of the technology company's stock after selling 1,742 shares during the period. Bryce Point Capital LLC's holdings in OSI Systems were worth $787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd bought a new position in shares of OSI Systems in the fourth quarter worth approximately $25,000. Nisa Investment Advisors LLC boosted its holdings in 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 acquiring an additional 113 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in OSI Systems by 241.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 683 shares of the technology company's stock valued at $108,000 after acquiring an additional 483 shares in the last quarter. Xponance Inc. bought a new stake in OSI Systems in the first quarter valued at $233,000. Finally, Sequoia Financial Advisors LLC purchased a new position in OSI Systems during the first quarter valued at $234,000. 89.21% of the stock is currently owned by institutional investors.

OSI Systems Price Performance

Shares of NASDAQ:OSIS traded down $1.17 during trading on Thursday, reaching $222.38. The stock had a trading volume of 57,405 shares, compared to its average volume of 224,952. OSI Systems, Inc. has a 1-year low of $129.18 and a 1-year high of $241.64. The stock has a market cap of $3.73 billion, a PE ratio of 27.10, a PEG ratio of 1.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.38 and a current ratio of 2.11. The business has a fifty day moving average price of $222.80 and a 200-day moving average price of $206.51.

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

Analyst Upgrades and Downgrades

OSIS has been the subject of a number of recent analyst reports. Oppenheimer boosted their target price on OSI Systems from $225.00 to $260.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Wall Street Zen upgraded OSI Systems from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Roth Mkm boosted their price target on OSI Systems from $224.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wells Fargo & Company cut their price target on OSI Systems from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, B. Riley reiterated a "buy" rating and set a $255.00 price objective (up from $221.00) on shares of OSI Systems in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $228.33.

Insider Activity at OSI Systems

In related news, CFO Alan I. Edrick sold 20,000 shares of OSI Systems stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $229.00, for a total value of $4,580,000.00. Following the transaction, the chief financial officer owned 284,953 shares in the company, valued at approximately $65,254,237. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $237.15, for a total value of $237,150.00. Following the completion of the transaction, the director directly owned 11,214 shares in the company, valued at $2,659,400.10. This trade represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,371 shares of company stock worth $9,784,380 in the last ninety days. Company insiders own 5.20% of the company's stock.

OSI Systems 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.