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Alan Edrick, Executive Vice President and Chief Financial Officer of OSI Systems Inc. (NASDAQ:OSIS), a $3.14 billion security and inspection systems company whose stock has gained over 40% in the past year, has recently sold a significant portion of the company's stock. According to a recent SEC filing, Edrick executed two separate transactions on December 12 and 13, selling a total of 10,000 shares. The sales were conducted at prices ranging from $188.00 to $188.42 per share, culminating in a total value of approximately $1.88 million. These transactions occurred as the stock traded near its 52-week high of $189.13. InvestingPro analysis indicates the stock is currently in overbought territory.
Following these transactions, Edrick's direct ownership of OSI Systems' common stock stands at 304,798 shares. Additionally, the filing notes a non-monetary transaction involving the gifting of 2,000 shares to a charitable donor-advised fund. While this insider sale is notable, InvestingPro data shows management has been actively buying back shares, with 8 more exclusive insights available to subscribers.
In other recent news, OSI Systems has reported significant developments. The company has experienced a robust start to the fiscal year 2025, with a 23% increase in revenue to $344 million, primarily driven by its Security division, and non-GAAP adjusted earnings per share of $1.25. OSI Systems has also raised its revenue guidance for fiscal '25 to between $1.67 billion and $1.695 billion, and non-GAAP diluted EPS guidance to $9 to $9.30 per share.
The company also announced the appointment of Ajay Mehra as the new President and Chief Executive Officer, effective January 1, 2025. Mehra will succeed Deepak Chopra, who will become the Executive Chairman of the Board. This leadership change follows Mehra's successful tenure as the President of the company's Security division and Executive Vice President.
In addition, OSI Systems secured two $6 million orders; one from a leading healthcare equipment manufacturer for optical sensors and another from a U.S. hospital system for patient monitoring solutions. These orders demonstrate the company's ongoing commitment to its customers and its capability to meet specialized needs in the healthcare industry.
OSI Systems' target was raised to $205 from $175 by Oppenheimer, indicating a positive outlook for the company. The analyst from Oppenheimer highlighted Mehra's significant contributions to OSI's development into a leading global provider of ports and borders security screening solutions. These are the recent developments for OSI Systems.
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