Zacks Investment Research lowered shares of OSI Systems (NASDAQ:OSIS) from a buy rating to a hold rating in a report published on Tuesday morning.
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. “
Other analysts have also issued research reports about the company. BidaskClub raised OSI Systems from a hold rating to a buy rating in a research note on Wednesday, May 9th. ValuEngine raised OSI Systems from a sell rating to a hold rating in a research note on Monday, June 11th. Finally, Sidoti lowered OSI Systems from a buy rating to a neutral rating in a research note on Thursday, June 21st. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $83.00.
OSIS opened at $78.25 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 0.85 and a debt-to-equity ratio of 0.51. The firm has a market cap of $1.39 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.59 and a beta of 0.85. OSI Systems has a 52 week low of $50.50 and a 52 week high of $96.64.
OSI Systems (NASDAQ:OSIS) last posted its quarterly earnings data on Thursday, April 26th. The technology company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $267.30 million for the quarter, compared to analyst estimates of $263.18 million. OSI Systems had a positive return on equity of 13.20% and a negative net margin of 3.10%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. equities analysts predict that OSI Systems will post 3.58 earnings per share for the current fiscal year.
OSI Systems announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 6th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
A number of large investors have recently modified their holdings of OSIS. Schwab Charles Investment Management Inc. boosted its stake in OSI Systems by 4.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 117,078 shares of the technology company’s stock worth $7,538,000 after buying an additional 4,781 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in OSI Systems in the 4th quarter worth about $394,000. Arizona State Retirement System boosted its stake in OSI Systems by 227.4% in the 4th quarter. Arizona State Retirement System now owns 29,968 shares of the technology company’s stock worth $1,929,000 after buying an additional 20,814 shares during the last quarter. Rhumbline Advisers boosted its stake in OSI Systems by 16.2% in the 4th quarter. Rhumbline Advisers now owns 42,187 shares of the technology company’s stock worth $2,716,000 after buying an additional 5,875 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in OSI Systems by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 232,132 shares of the technology company’s stock worth $14,946,000 after buying an additional 4,018 shares during the last quarter.
About OSI Systems
OSI Systems, Inc designs, manufactures, and sells electronic systems and components worldwide. The company's Security segment provides baggage and parcel inspection, cargo and vehicle inspection, hold baggage and people screening, radiation detection, and explosive and narcotics trace detection systems under the Rapiscan Systems and AS&E names.
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