Manoocher M. Aliabadi, President of the Optoelectronics Division at OSI Systems Inc. (NASDAQ:OSIS), recently sold 1,728 shares of the company's common stock. The sale comes as OSI Systems trades near its 52-week high of $183.22, having delivered an impressive 30% return over the past six months. According to InvestingPro analysis, the stock's RSI suggests overbought territory. The shares were sold at an average price of $180.39, amounting to a total transaction value of $311,713. Following this sale, Aliabadi holds 80,603 shares in the company.
This transaction was reported in a Form 4 filing with the Securities and Exchange Commission, detailing the changes in ownership of the company's stock by its insiders.
In other recent news, OSI Systems announced a series of significant developments. The company reported a robust Q1 growth for fiscal year 2025, with revenue increasing by 23% to a record $344 million, primarily driven by its Security division. Non-GAAP adjusted earnings per share were reported at $1.25, and the company ended the quarter with a substantial backlog of approximately $1.8 billion. OSI Systems also raised its fiscal '25 revenue guidance to between $1.67 billion and $1.695 billion, and non-GAAP diluted EPS guidance to $9 to $9.30 per share.
Furthermore, OSI Systems secured two significant orders, one for $6 million from a leading healthcare equipment manufacturer for the provision of optical sensors, and another for $6 million from a U.S. hospital system for patient monitoring solutions. These developments demonstrate the company's capability to meet specialized needs in the healthcare industry.
In addition to these financial highlights, OSI Systems announced the appointment of Ajay Mehra as the new President and Chief Executive Officer, effective January 1, 2025. Mehra, who currently serves as the President of the company's Security division, will succeed Deepak Chopra. These recent developments reflect OSI Systems' ongoing mission and its commitment to growth and innovation strategies.
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