OSI Systems, Inc. (OSIS) Trading -1.6% Higher After Analyst Upgrade
OSI Systems, Inc. (NASDAQ:OSIS) shares traded up 1.6% during mid-day trading on Monday after Jefferies Group raised their price target on the stock from $85.00 to $93.00. Jefferies Group currently has a buy rating on the stock. OSI Systems traded as high as $86.14 and last traded at $82.51, with a volume of 161,702 shares changing hands. The stock had previously closed at $83.83.
Several other research analysts have also recently issued reports on OSIS. B. Riley reaffirmed a “buy” rating and issued a $87.00 price target on shares of OSI Systems in a report on Saturday, April 29th. BidaskClub raised shares of OSI Systems from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. TheStreet raised shares of OSI Systems from a “c+” rating to a “b-” rating in a research note on Thursday, August 10th. Zacks Investment Research downgraded shares of OSI Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Finally, Sidoti began coverage on shares of OSI Systems in a research note on Wednesday, May 24th. They set a “buy” rating and a $99.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $89.67.
A number of hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of OSI Systems during the second quarter valued at about $356,000. Verition Fund Management LLC increased its stake in shares of OSI Systems by 50.5% in 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 period. Piedmont Investment Advisors LLC purchased a new stake in shares of OSI Systems during the second quarter valued at about $288,000. Westwood Holdings Group Inc. increased its stake in shares of OSI Systems by 3.1% in 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 period. Finally, Earnest Partners LLC increased its stake in shares of OSI Systems by 1.6% in 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 period.
The stock has a market cap of $1.60 billion, a P/E ratio of 76.87 and a beta of 0.79. The stock’s 50 day moving average is $79.23 and its 200 day moving average is $76.22.
OSI Systems (NASDAQ:OSIS) last issued its earnings results on Thursday, August 24th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.09. The business had revenue of $252.40 million for the quarter, compared to analyst estimates of $253.58 million. OSI Systems had a net margin of 2.19% and a return on equity of 10.68%. OSI Systems’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, analysts anticipate that OSI Systems, Inc. will post $3.39 earnings per share for the current year.
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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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