Principal Financial Group Inc. Sells 4,757 Shares of OSI Systems, Inc. (NASDAQ:OSIS)

Principal Financial Group Inc. lessened its holdings in shares of OSI Systems, Inc. (NASDAQ:OSIS) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 79,793 shares of the technology company’s stock after selling 4,757 shares during the quarter. Principal Financial Group Inc.’s holdings in OSI Systems were worth $12,115,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in shares of OSI Systems by 3.5% during 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 during the period. World Investment Advisors LLC bought a new stake in OSI Systems during the 3rd quarter worth approximately $16,713,000. Hohimer Wealth Management LLC acquired a new stake in OSI Systems during the 3rd quarter worth approximately $264,000. Geode Capital Management LLC boosted its holdings in shares of OSI Systems by 1.5% in the third quarter. Geode Capital Management LLC now owns 380,092 shares of the technology company’s stock valued at $57,720,000 after buying an additional 5,718 shares during the period. Finally, Barclays PLC increased its position in shares of 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 acquiring an additional 25,437 shares in the last quarter. 89.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Manoocher M. Aliabadi sold 2,509 shares of OSI Systems stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $180.02, for a total transaction of $451,670.18. Following the completion of the sale, the insider now owns 78,094 shares of the company’s stock, valued at approximately $14,058,481.88. The trade was a 3.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Deepak Chopra sold 15,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $153.42, for a total transaction of $2,301,300.00. Following the completion of the transaction, the chief executive officer now directly owns 424,323 shares in the company, valued at approximately $65,099,634.66. This represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,591 shares of company stock valued at $7,557,745 in the last quarter. Company insiders own 5.20% of the company’s stock.

OSI Systems Price Performance

NASDAQ:OSIS opened at $171.35 on Monday. The stock’s 50-day simple moving average is $162.03 and its 200 day simple moving average is $149.93. OSI Systems, Inc. has a 52-week low of $120.42 and a 52-week high of $189.13. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.84. The company has a market cap of $2.86 billion, a P/E ratio of 22.37, a P/E/G ratio of 1.55 and a beta of 1.18.

OSI Systems (NASDAQ:OSIS) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $1.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $344.01 million for the quarter, compared to analysts’ expectations of $318.66 million. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that OSI Systems, Inc. will post 9.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on OSIS shares. StockNews.com raised shares of OSI Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America started coverage on OSI Systems in a research report on Monday, September 30th. They set a “buy” rating and a $175.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on OSI Systems from $172.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, OSI Systems presently has a consensus rating of “Moderate Buy” and an average target price of $179.00.

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.