Sequoia Financial Advisors LLC Acquires New Stake in OSI Systems, Inc. (NASDAQ:OSIS)

Sequoia Financial Advisors LLC acquired a new stake in shares of OSI Systems, Inc. (NASDAQ:OSIS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,204 shares of the technology company's stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in OSI Systems by 243.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 275 shares of the technology company's stock valued at $46,000 after purchasing an additional 195 shares during the last quarter. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 3,424 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of OSI Systems in the fourth quarter worth $300,000. Proficio Capital Partners LLC acquired a new stake in shares of OSI Systems in the fourth quarter worth $4,934,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of OSI Systems in the fourth quarter worth $1,840,000. Institutional investors own 89.21% of the company's stock.

OSI Systems Price Performance

Shares of OSIS traded up $3.02 during trading hours on Tuesday, hitting $233.83. 202,827 shares of the company were exchanged, compared to its average volume of 207,232. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 1.95 and a beta of 1.27. OSI Systems, Inc. has a fifty-two week low of $129.18 and a fifty-two week high of $241.64. 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 firm's fifty day moving average is $224.28 and its 200 day moving average is $200.91.

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

Insider Activity at OSI Systems

In other news, insider Glenn Grindstaff sold 688 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $224.89, for a total transaction of $154,724.32. Following the completion of the sale, the insider owned 8,354 shares in the company, valued at $1,878,731.06. The trade was a 7.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alan I. Edrick sold 20,000 shares of OSI Systems stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $229.00, for a total value of $4,580,000.00. Following the transaction, the chief financial officer directly owned 284,953 shares in the company, valued at approximately $65,254,237. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,371 shares of company stock valued at $9,784,380 over the last ninety days. Insiders own 5.20% of the company's stock.

Analyst Ratings Changes

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

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.