OSI Systems, Inc. (OSIS) Rating Increased 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 research report issued to clients and investors on Friday. The firm currently has a $92.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.17% 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 equities research analysts also recently issued reports about the company. B. Riley set a $92.00 target price on OSI Systems and gave the stock a “buy” rating in a report on Sunday, August 27th. Jefferies Group LLC lifted their target price on OSI Systems from $85.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, August 25th. BidaskClub upgraded OSI Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Roth Capital reiterated a “buy” rating and issued a $97.00 target price on shares of OSI Systems in a report on Tuesday, August 29th. Finally, TheStreet upgraded OSI Systems from a “c+” rating to a “b-” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $91.14.
Shares of OSI Systems (OSIS) traded up 1.54% during trading on Friday, hitting $84.27. The company had a trading volume of 168,467 shares. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 78.76 and a beta of 0.75. OSI Systems has a 12-month low of $63.43 and a 12-month high of $86.14. The stock has a 50-day moving average of $81.20 and a 200 day moving average of $76.85.
OSI Systems (NASDAQ:OSIS) last issued its earnings results on Thursday, August 24th. The technology company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.09. The business had revenue of $252.40 million during the quarter, compared to the consensus estimate of $253.58 million. OSI Systems had a return on equity of 10.57% and a net margin of 2.19%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. On average, analysts predict that OSI Systems will post $3.46 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of OSI Systems during the second quarter valued at approximately $356,000. Verition Fund Management LLC boosted its position in shares of OSI Systems by 50.5% during the second quarter. Verition Fund Management LLC now owns 5,547 shares of the technology company’s stock valued at $417,000 after buying an additional 1,862 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of OSI Systems during the second quarter valued at approximately $288,000. Westwood Holdings Group Inc. boosted its position in shares of OSI Systems by 3.1% during the second quarter. Westwood Holdings Group Inc. now owns 601,321 shares of the technology company’s stock valued at $45,282,000 after buying an additional 18,192 shares during the last quarter. Finally, Earnest Partners LLC boosted its position in shares of OSI Systems by 1.6% during the second quarter. Earnest Partners LLC now owns 966,833 shares of the technology company’s stock valued at $72,657,000 after buying an additional 15,222 shares during the last quarter.
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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