Wedge Capital Management L L P NC Cuts Holdings in OSI Systems, Inc. (NASDAQ:OSIS)

Wedge Capital Management L L P NC decreased its holdings in shares of OSI Systems, Inc. (NASDAQ:OSIS - Free Report) by 45.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,685 shares of the technology company's stock after selling 14,751 shares during the quarter. Wedge Capital Management L L P NC owned 0.11% of OSI Systems worth $3,437,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of OSIS. Capital International Investors purchased a new position in shares of OSI Systems during the fourth quarter worth approximately $97,258,000. Mawer Investment Management Ltd. bought a new stake in OSI Systems in the fourth quarter worth $63,171,000. Brown Advisory Inc. purchased a new stake in OSI Systems during the fourth quarter valued at about $45,618,000. FMR LLC grew its stake in shares of OSI Systems by 31.6% during the fourth quarter. FMR LLC now owns 847,907 shares of the technology company's stock valued at $141,965,000 after buying an additional 203,511 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of OSI Systems by 34.7% in the fourth quarter. Boston Partners now owns 237,882 shares of the technology company's stock worth $39,911,000 after buying an additional 61,304 shares during the period. Hedge funds and other institutional investors own 89.21% of the company's stock.

Insider Buying and Selling

In related news, CFO Alan I. Edrick sold 20,000 shares of the company's 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 sale, the chief financial officer now directly owns 284,953 shares of the company's stock, valued at $65,254,237. This represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Francis Ballhaus, Jr. sold 933 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $219.77, for a total value of $205,045.41. Following the completion of the sale, the director now directly owns 24,805 shares in the company, valued at approximately $5,451,394.85. This represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,371 shares of company stock valued at $9,784,380 over the last ninety days. Company insiders own 5.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Roth Mkm raised their price target on OSI Systems from $224.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. assumed coverage on shares of OSI Systems in a research note on Friday, February 21st. They issued a "neutral" rating and a $225.00 target price on the stock. Wells Fargo & Company dropped their price target on shares of OSI Systems from $220.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. B. Riley reissued a "buy" rating and set a $255.00 price target (up previously from $221.00) on shares of OSI Systems in a research report on Friday, May 2nd. 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, OSI Systems currently has an average rating of "Moderate Buy" and a consensus target price of $228.33.

OSI Systems Trading Down 3.0%

Shares of OSIS traded down $7.04 during mid-day trading on Friday, hitting $229.54. 247,457 shares of the company's stock traded hands, compared to its average volume of 199,277. The company has a quick ratio of 1.25, a current ratio of 1.88 and a debt-to-equity ratio of 0.56. OSI Systems, Inc. has a 1 year low of $129.18 and a 1 year high of $241.64. The firm has a market capitalization of $3.85 billion, a P/E ratio of 29.54, a PEG ratio of 1.81 and a beta of 1.28. The business's 50-day moving average price is $213.05 and its 200-day moving average price is $195.44.

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 analysts' expectations of $436.49 million. OSI Systems had a return on equity of 18.22% and a net margin of 8.15%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 earnings per share. As a group, sell-side analysts forecast that OSI Systems, Inc. will post 9.22 EPS for the current fiscal year.

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.