Millrace Asset Group Inc. Cuts Stake in OSI Systems, Inc. (NASDAQ:OSIS)

Millrace Asset Group Inc. cut its stake in OSI Systems, Inc. (NASDAQ:OSIS) by 15.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 13,879 shares of the technology company’s stock after selling 2,460 shares during the period. OSI Systems accounts for approximately 2.1% of Millrace Asset Group Inc.’s portfolio, making the stock its 11th largest position. Millrace Asset Group Inc.’s holdings in OSI Systems were worth $2,107,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OSIS. Quest Partners LLC acquired a new stake in OSI Systems during the second quarter worth about $40,000. Cape Investment Advisory Inc. acquired a new position in shares of OSI Systems in the 1st quarter valued at about $63,000. Innealta Capital LLC purchased a new stake in shares of OSI Systems during the 2nd quarter worth about $82,000. International Assets Investment Management LLC increased its position in OSI Systems by 15,075.0% during the 3rd quarter. International Assets Investment Management LLC now owns 607 shares of the technology company’s stock worth $92,000 after purchasing an additional 603 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in OSI Systems in the second quarter valued at approximately $160,000. 89.21% of the stock is currently owned by hedge funds and other institutional investors.

OSI Systems Stock Performance

NASDAQ:OSIS opened at $168.99 on Tuesday. The firm has a 50-day moving average of $146.62 and a two-hundred day moving average of $143.28. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.84 and a quick ratio of 1.20. The stock has a market cap of $2.82 billion, a P/E ratio of 22.06, a PEG ratio of 1.42 and a beta of 1.10. OSI Systems, Inc. has a 1-year low of $119.57 and a 1-year high of $170.49.

OSI Systems (NASDAQ:OSIS) last issued its quarterly earnings results on Thursday, October 24th. The technology company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.19. OSI Systems had a return on equity of 18.17% and a net margin of 8.31%. The firm had revenue of $344.01 million during the quarter, compared to the consensus estimate of $318.66 million. During the same quarter in the prior year, the business posted $0.91 earnings per share. OSI Systems’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, research analysts expect that OSI Systems, Inc. will post 9.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OSIS. B. Riley increased their price objective on shares of OSI Systems from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Bank of America started coverage on shares of OSI Systems in a research report on Monday, September 30th. They set a “buy” rating and a $175.00 price target for the company. Roth Mkm raised their price objective on OSI Systems from $172.00 to $178.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their target price on OSI Systems from $170.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded OSI Systems from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, OSI Systems has a consensus rating of “Moderate Buy” and an average price target of $173.00.

Insider Activity

In other news, CEO Deepak Chopra sold 15,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $153.42, for a total value of $2,301,300.00. Following the sale, the chief executive officer now owns 424,323 shares in the company, valued at approximately $65,099,634.66. This represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald M. Chizever sold 3,000 shares of OSI Systems stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $138.41, for a total value of $415,230.00. Following the completion of the transaction, the director now owns 3,462 shares of the company’s stock, valued at $479,175.42. This trade represents a 46.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,107 shares of company stock worth $6,071,809. 5.20% of the stock is currently owned by insiders.

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.