Lord Abbett & CO. LLC Cuts Stock Position in OSI Systems, Inc. (NASDAQ:OSIS)

Lord Abbett & CO. LLC cut its holdings in shares of OSI Systems, Inc. (NASDAQ:OSIS - Free Report) by 10.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,154 shares of the technology company's stock after selling 11,444 shares during the quarter. Lord Abbett & CO. LLC owned 0.60% of OSI Systems worth $16,769,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of OSIS. Barclays PLC boosted its stake in OSI Systems by 252.3% during the third quarter. Barclays PLC now owns 35,519 shares of the technology company's stock worth $5,392,000 after buying an additional 25,437 shares in the last quarter. World Investment Advisors LLC bought a new stake in OSI Systems in the third quarter valued at about $16,713,000. Franklin Resources Inc. raised its position in OSI Systems by 3.5% in the third quarter. Franklin Resources Inc. now owns 9,560 shares of the technology company's stock worth $1,429,000 after purchasing an additional 324 shares in the last quarter. Nordea Investment Management AB lifted its stake in OSI Systems by 4.5% during the fourth quarter. Nordea Investment Management AB now owns 52,821 shares of the technology company's stock worth $8,915,000 after purchasing an additional 2,270 shares during the period. Finally, Oliver Luxxe Assets LLC boosted its holdings in OSI Systems by 6.0% during the fourth quarter. Oliver Luxxe Assets LLC now owns 22,689 shares of the technology company's stock valued at $3,799,000 after purchasing an additional 1,293 shares in the last quarter. Hedge funds and other institutional investors own 89.21% of the company's stock.

OSI Systems Trading Up 9.6 %

Shares of OSI Systems stock traded up $19.59 on Thursday, hitting $224.33. The stock had a trading volume of 683,282 shares, compared to its average volume of 246,658. The stock has a 50 day moving average of $192.05 and a 200 day moving average of $178.53. The firm has a market capitalization of $3.77 billion, a P/E ratio of 28.87, a PEG ratio of 1.81 and a beta of 1.19. OSI Systems, Inc. has a twelve month low of $129.18 and a twelve month high of $226.49. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.25 and a current ratio of 1.88.

OSI Systems (NASDAQ:OSIS - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.38 by $0.06. The business had revenue of $444.35 million during the quarter, compared to the consensus estimate of $436.49 million. OSI Systems had a net margin of 8.15% and a return on equity of 18.22%. OSI Systems's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 earnings per share. Sell-side analysts expect that OSI Systems, Inc. will post 9.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OSIS has been the subject of several research analyst reports. Roth Mkm lifted their price objective on OSI Systems from $178.00 to $224.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Wells Fargo & Company lowered their price objective 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 increased their price target on shares of OSI Systems from $180.00 to $221.00 and gave the company a "buy" rating in a research note on Friday, January 24th. StockNews.com cut shares of OSI Systems from a "hold" rating to a "sell" rating in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. assumed coverage on OSI Systems in a research report on Friday, February 21st. They issued a "neutral" rating and a $225.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, OSI Systems has a consensus rating of "Moderate Buy" and a consensus target price of $213.33.

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.