Vestcor Inc Sells 1,189 Shares of OSI Systems, Inc. (NASDAQ:OSIS)

Key Points

• Vestcor Inc reduced its stake in OSI Systems by 58.9%, selling 1,189 shares to hold a total of 830 shares worth $161,000 as of its latest SEC filing.
• Several hedge funds recently modified their positions in OSI Systems, with notable investments including Norges Bank acquiring a new position valued at $9,085,000.
• OSI Systems stock has seen price targets from analysts ranging from $210.00 to $260.00, with a consensus rating of "Moderate Buy" and a target price of $228.33.

Vestcor Inc lessened its stake in shares of OSI Systems, Inc. (NASDAQ:OSIS - Free Report) by 58.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 830 shares of the technology company's stock after selling 1,189 shares during the quarter. Vestcor Inc's holdings in OSI Systems were worth $161,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of OSI Systems in the 4th quarter valued at about $25,000. Nisa Investment Advisors LLC boosted its position 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 worth $38,000 after acquiring an additional 113 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of OSI Systems by 241.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 683 shares of the technology company's stock worth $108,000 after acquiring an additional 483 shares during the last quarter. Quantessence Capital LLC purchased a new position in OSI Systems in the fourth quarter valued at approximately $231,000. Finally, Xponance Inc. purchased a new stake in shares of OSI Systems during the first quarter valued at approximately $233,000. Hedge funds and other institutional investors own 89.21% of the company's stock.

OSI Systems Price Performance

OSI Systems stock traded down $0.79 during mid-day trading on Friday, hitting $223.14. 79,427 shares of the company were exchanged, compared to its average volume of 221,471. 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 business has a fifty day moving average of $222.39 and a 200 day moving average of $208.92. OSI Systems, Inc. has a 1-year low of $129.84 and a 1-year high of $241.64. The company has a market capitalization of $3.75 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.87 and a beta of 1.31.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OSIS. Oppenheimer raised 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. Wall Street Zen upgraded shares of OSI Systems from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Roth Mkm upped their target price on OSI Systems from $224.00 to $245.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, B. Riley reaffirmed a "buy" rating and set a $255.00 target price (up previously from $221.00) on shares of OSI Systems in a research report on Friday, May 2nd. Two equities research 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 stock has an average rating of "Moderate Buy" and a consensus price target of $228.33.

Insider Transactions at OSI Systems

In related news, CFO Alan I. Edrick sold 20,000 shares of the firm's stock in a transaction dated 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 $65,254,237. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Francis Ballhaus, Jr. sold 750 shares of the firm's stock in a transaction dated 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 owned 24,055 shares in the company, valued at approximately $5,505,708.40. This trade represents a 3.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,750 shares of company stock worth $4,988,810. Insiders own 5.20% of the company's stock.

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.