Coe Capital Management LLC Decreases Stake in OSI Systems, Inc. (OSIS)
Coe Capital Management LLC lessened its position in OSI Systems, Inc. (NASDAQ:OSIS) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,765 shares of the technology company’s stock after selling 925 shares during the quarter. Coe Capital Management LLC’s holdings in OSI Systems were worth $436,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OSIS. Cubist Systematic Strategies LLC purchased a new position in shares of OSI Systems in the third quarter valued at approximately $165,000. Magnetar Financial LLC purchased a new position in shares of OSI Systems in the third quarter valued at approximately $204,000. Icon Advisers Inc. Co. purchased a new position in shares of OSI Systems in the third quarter valued at approximately $210,000. CIBC Asset Management Inc purchased a new position in shares of OSI Systems in the third quarter valued at approximately $211,000. Finally, Amalgamated Bank purchased a new position in shares of OSI Systems in the third quarter valued at approximately $218,000.
OSI Systems, Inc. (NASDAQ:OSIS) opened at $68.46 on Friday. OSI Systems, Inc. has a 1 year low of $50.50 and a 1 year high of $96.64. The company has a market capitalization of $1,275.82, a P/E ratio of -59.53, a P/E/G ratio of 1.42 and a beta of 0.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.55.
OSI Systems announced that its board has initiated a stock repurchase program on Tuesday, March 6th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities analysts have recently weighed in on the company. BidaskClub downgraded OSI Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 20th. TheStreet downgraded OSI Systems from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. Jefferies Group downgraded OSI Systems from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $79.00 to $70.00 in a research report on Friday, February 2nd. They noted that the move was a valuation call. B. Riley reiterated a “buy” rating and set a $108.00 price objective on shares of OSI Systems in a research report on Thursday, January 25th. Finally, Zacks Investment Research downgraded OSI Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. OSI Systems presently has a consensus rating of “Hold” and an average target price of $85.80.
In related news, Director Meyer/ Luskin acquired 20,000 shares of OSI Systems stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average price of $56.79 per share, for a total transaction of $1,135,800.00. Following the completion of the transaction, the director now owns 10,376 shares in the company, valued at approximately $589,253.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.60% of the company’s stock.
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OSI Systems Company Profile
OSI Systems, Inc, through its subsidiaries, is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. The Company sells its products and provides related services in diversified markets, including homeland security, healthcare, defense and aerospace.
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