OSI Systems (NASDAQ:OSIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $75.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.16% from the company’s current price.
According to Zacks, “OSI Systems is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense and aerospace industries. The Company combines more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end product markets. Their Research and Development teams are focused on expanding and enhancing their product portfolios and delivering breakthrough technology solutions and are making technological advances designed to keep pace with their rapidly changing marketplace. They have three operating divisions: Security division, Healthcare division & Optoelectronics & Manufacturing division. “
OSIS has been the subject of a number of other research reports. Roth Capital lowered their price objective on shares of OSI Systems from $106.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. BidaskClub raised shares of OSI Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 6th. Jefferies Group reaffirmed a “buy” rating and set a $79.00 price objective on shares of OSI Systems in a research report on Monday, January 8th. TheStreet downgraded shares of OSI Systems from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. Finally, B. Riley reaffirmed a “buy” rating and set a $108.00 price objective on shares of OSI Systems in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $86.00.
Shares of OSI Systems stock opened at $67.47 on Thursday. 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 has a 1 year low of $50.50 and a 1 year high of $96.64. The firm has a market cap of $1,271.26, a PE ratio of -58.67, a P/E/G ratio of 1.41 and a beta of 0.89.
OSI Systems (NASDAQ:OSIS) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. OSI Systems had a negative net margin of 2.06% and a positive return on equity of 12.78%. The business had revenue of $277.53 million during the quarter, compared to the consensus estimate of $263.77 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. research analysts expect that OSI Systems will post 3.5 earnings per share for the current year.
OSI Systems declared that its board has initiated a share repurchase plan on Tuesday, March 6th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Meyer/ Luskin bought 20,000 shares of OSI Systems stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $56.79 per share, with a total value of $1,135,800.00. Following the purchase, the director now directly owns 10,376 shares of the company’s stock, valued at approximately $589,253.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake in OSI Systems by 1.6% during the 3rd quarter. Rhumbline Advisers now owns 36,312 shares of the technology company’s stock valued at $3,318,000 after purchasing an additional 560 shares during the period. American International Group Inc. boosted its stake in OSI Systems by 5.5% during the 3rd quarter. American International Group Inc. now owns 13,802 shares of the technology company’s stock valued at $1,261,000 after purchasing an additional 725 shares during the period. Asset Management One Co. Ltd. boosted its stake in OSI Systems by 29.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the technology company’s stock valued at $293,000 after purchasing an additional 730 shares during the period. Oppenheimer & Co. Inc. boosted its stake in OSI Systems by 2.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 36,155 shares of the technology company’s stock valued at $3,303,000 after purchasing an additional 740 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in OSI Systems by 24.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 5,272 shares of the technology company’s stock valued at $480,000 after purchasing an additional 1,040 shares during the period.
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About OSI Systems
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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