Primecap Management Co. CA Buys 36,620 Shares of OSI Systems, Inc. (NASDAQ:OSIS)

Key Points

• Primecap Management Co. CA increased its holdings in OSI Systems, Inc. by 12.3%, owning 334,330 shares valued at approximately $64.97 million.
• Several institutional investors have also adjusted their positions, leading to 89.21% of the company's stock now held by institutional investors.
• Analysts have raised price targets for OSI Systems, with Oppenheimer increasing its target to $260.00 and Roth Mkm to $245.00, while the consensus rating is "Moderate Buy."

Primecap Management Co. CA increased its position in shares of OSI Systems, Inc. (NASDAQ:OSIS - Free Report) by 12.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 334,330 shares of the technology company's stock after acquiring an additional 36,620 shares during the quarter. Primecap Management Co. CA owned about 1.99% of OSI Systems worth $64,974,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. acquired a new position in OSI Systems in the fourth quarter valued at about $1,878,000. LPL Financial LLC bought a new position in OSI Systems in the fourth quarter valued at approximately $1,444,000. Norges Bank bought a new position in OSI Systems in the fourth quarter valued at approximately $9,085,000. Pictet Asset Management Holding SA grew its stake in OSI Systems by 24.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,439 shares of the technology company's stock valued at $408,000 after purchasing an additional 485 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in OSI Systems in the fourth quarter valued at approximately $478,000. Institutional investors and hedge funds own 89.21% of the company's stock.

OSI Systems Trading Up 0.1%

Shares of NASDAQ:OSIS traded up $0.33 during midday trading on Monday, reaching $226.27. The company's stock had a trading volume of 49,444 shares, compared to its average volume of 220,699. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.91 and a beta of 1.31. 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 firm has a 50 day moving average price of $222.55 and a two-hundred day moving average price of $209.68. OSI Systems, Inc. has a fifty-two week low of $129.84 and a fifty-two week high of $241.64.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Oppenheimer raised their price objective on OSI Systems from $225.00 to $260.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. B. Riley reaffirmed a "buy" rating and issued a $255.00 price objective (up from $221.00) on shares of OSI Systems in a report on Friday, May 2nd. Wall Street Zen raised OSI Systems from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, Roth Mkm boosted their price target on OSI Systems from $224.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Two equities research 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 currently has an average rating of "Moderate Buy" and an average target price of $228.33.

Insider Activity

In other news, Director Meyer/ Luskin sold 1,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $237.15, for a total value of $237,150.00. Following the transaction, the director directly owned 11,214 shares of the company's stock, valued at $2,659,400.10. The trade was a 8.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Francis Ballhaus, Jr. sold 750 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $228.88, for a total value of $171,660.00. Following the transaction, the director directly owned 24,055 shares in the company, valued at approximately $5,505,708.40. This trade represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,750 shares of company stock valued at $4,988,810 in the last ninety days. 5.20% of the stock is owned by company insiders.

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.