OSI Systems, Inc. (OSIS) Upgraded to “Buy” at Zacks Investment Research
OSI Systems, Inc. (NASDAQ:OSIS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $94.00 price target on the technology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 14.09% from the stock’s previous close.
According to Zacks, “OSI Systems, Inc. is a premier worldwide designer and provider of components, subsystems and end-products based on optical and electromechanical pressure sensor technologies. The Company’s product range focuses on the fiber optics and high speed telecommunications for Gigabit Ethernet and Fibre Channel, Security and Inspection and Medical Diagnostics industries, three areas of excellent growth for our products. The Company also sees continued expansion in office automation, aerospace, computer peripherals and industrial automation industries. “
Other research analysts also recently issued reports about the stock. TheStreet raised shares of OSI Systems from a “c+” rating to a “b-” rating in a research report on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating on shares of OSI Systems in a research report on Thursday, June 1st. Sidoti initiated coverage on shares of OSI Systems in a research report on Wednesday, May 24th. They set a “buy” rating and a $99.00 target price for the company. BidaskClub raised shares of OSI Systems from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Finally, Roth Capital reissued a “buy” rating and set a $97.00 target price on shares of OSI Systems in a research report on Tuesday, August 29th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $91.43.
Shares of OSI Systems (NASDAQ:OSIS) traded down 1.22% during midday trading on Thursday, reaching $82.39. 128,190 shares of the company’s stock traded hands. The firm has a market cap of $1.60 billion, a PE ratio of 77.00 and a beta of 0.75. OSI Systems has a 12 month low of $62.22 and a 12 month high of $86.14. The stock has a 50-day moving average price of $80.71 and a 200 day moving average price of $76.65.
OSI Systems (NASDAQ:OSIS) last released its earnings results on Thursday, August 24th. The technology company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.09. OSI Systems had a net margin of 2.19% and a return on equity of 10.57%. The firm had revenue of $252.40 million during the quarter, compared to the consensus estimate of $253.58 million. During the same period in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. Equities research analysts predict that OSI Systems will post $3.46 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in OSIS. BlackRock Inc. boosted its holdings in OSI Systems by 51,732.1% in the 1st quarter. BlackRock Inc. now owns 2,248,475 shares of the technology company’s stock worth $164,115,000 after buying an additional 2,244,137 shares during the period. Janus Henderson Group PLC bought a new position in OSI Systems in the 2nd quarter worth approximately $108,791,000. Goldman Sachs Group Inc. boosted its holdings in OSI Systems by 57.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 557,023 shares of the technology company’s stock worth $40,657,000 after buying an additional 203,144 shares during the period. Redwood Investments LLC bought a new position in OSI Systems in the 1st quarter worth approximately $9,342,000. Finally, Aberdeen Asset Management PLC UK boosted its holdings in OSI Systems by 16.9% in the 1st quarter. Aberdeen Asset Management PLC UK now owns 631,543 shares of the technology company’s stock worth $46,096,000 after buying an additional 91,517 shares during the period.
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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