OppenheimerFunds Inc. raised its stake in OSI Systems, Inc. (NASDAQ:OSIS) by 24.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,201 shares of the technology company’s stock after buying an additional 1,997 shares during the period. OppenheimerFunds Inc. owned 0.05% of OSI Systems worth $656,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in OSI Systems in the third quarter valued at approximately $165,000. Magnetar Financial LLC acquired a new stake in OSI Systems in the third quarter valued at approximately $204,000. Icon Advisers Inc. Co. acquired a new stake in OSI Systems in the third quarter valued at approximately $210,000. CIBC Asset Management Inc acquired a new position in shares of OSI Systems during the third quarter worth $211,000. Finally, Amalgamated Bank acquired a new position in shares of OSI Systems during the third quarter worth $218,000.
In other news, Director Meyer/ Luskin bought 20,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average price of $56.79 per share, with a total value of $1,135,800.00. Following the completion of the purchase, the director now directly owns 10,376 shares of the company’s stock, valued at $589,253.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.60% of the stock is owned by company insiders.
OSIS has been the topic of a number of recent research reports. Sidoti initiated coverage on shares of OSI Systems in a report on Wednesday, February 21st. They set a “buy” rating on the stock. B. Riley reiterated a “buy” rating and set a $108.00 price target on shares of OSI Systems in a report on Thursday, January 25th. Jefferies Group lowered shares of OSI Systems from a “buy” rating to a “hold” rating and cut their price target for the stock from $79.00 to $70.00 in a report on Friday, February 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of OSI Systems from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, BidaskClub upgraded shares of OSI Systems from a “strong sell” rating to a “sell” rating in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $85.80.
OSI Systems, Inc. (OSIS) opened at $66.84 on Tuesday. The company has a market cap of $1,287.05, a price-to-earnings ratio of 18.64, a PEG ratio of 1.43 and a beta of 0.89. 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, Inc. has a fifty-two week low of $50.50 and a fifty-two week high of $96.64.
OSI Systems (NASDAQ:OSIS) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $277.53 million for the quarter, compared to analyst estimates of $263.77 million. OSI Systems had a negative net margin of 2.06% and a positive return on equity of 12.78%. OSI Systems’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. research analysts forecast that OSI Systems, Inc. will post 3.5 EPS for the current year.
OSI Systems declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 6th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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OSI Systems Company Profile
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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