OSI Systems (NASDAQ:OSIS) Earns Buy Rating from Analysts at Bank of America

Equities research analysts at Bank of America initiated coverage on shares of OSI Systems (NASDAQ:OSIS) in a report released on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $175.00 price target on the technology company’s stock. Bank of America‘s price target suggests a potential upside of 18.72% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company assumed coverage on shares of OSI Systems in a report on Wednesday, September 18th. They set an “overweight” rating and a $170.00 price target for the company. Roth Mkm boosted their price target on shares of OSI Systems from $172.00 to $178.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, B. Riley increased their price objective on OSI Systems from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $172.60.

OSI Systems Stock Down 2.9 %

OSIS stock opened at $147.41 on Monday. The company’s 50 day simple moving average is $144.37 and its 200-day simple moving average is $140.59. OSI Systems has a 52-week low of $103.04 and a 52-week high of $158.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.49 and a quick ratio of 1.00. The firm has a market capitalization of $2.51 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.50 and a beta of 1.08.

OSI Systems (NASDAQ:OSIS) last posted its quarterly earnings results on Thursday, August 22nd. The technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.05. OSI Systems had a return on equity of 17.80% and a net margin of 8.33%. The firm had revenue of $480.91 million for the quarter, compared to analyst estimates of $467.24 million. During the same period in the previous year, the firm earned $2.66 earnings per share. OSI Systems’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, equities research analysts anticipate that OSI Systems will post 8.93 EPS for the current year.

Insider Activity

In other OSI Systems news, CEO Deepak Chopra sold 20,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $144.92, for a total transaction of $2,898,400.00. Following the completion of the sale, the chief executive officer now directly owns 459,033 shares in the company, valued at $66,523,062.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul Keith Morben sold 1,107 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $145.04, for a total value of $160,559.28. Following the completion of the transaction, the insider now directly owns 10,077 shares in the company, valued at $1,461,568.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Deepak Chopra sold 20,000 shares of OSI Systems stock in a transaction on Monday, September 16th. The stock was sold at an average price of $144.92, for a total transaction of $2,898,400.00. Following the sale, the chief executive officer now owns 459,033 shares in the company, valued at approximately $66,523,062.36. The disclosure for this sale can be found here. Insiders have sold a total of 24,107 shares of company stock valued at $3,474,189 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OSI Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in OSIS. Thematics Asset Management boosted its holdings in OSI Systems by 18.8% during the fourth quarter. Thematics Asset Management now owns 158,000 shares of the technology company’s stock valued at $20,390,000 after purchasing an additional 25,000 shares in the last quarter. Wakefield Asset Management LLLP bought a new position in shares of OSI Systems during the first quarter valued at $959,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of OSI Systems by 1,193.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 29,052 shares of the technology company’s stock valued at $4,149,000 after acquiring an additional 26,806 shares during the period. Van ECK Associates Corp boosted its stake in shares of OSI Systems by 271.1% in the 1st quarter. Van ECK Associates Corp now owns 35,092 shares of the technology company’s stock valued at $5,012,000 after purchasing an additional 25,636 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of OSI Systems in the 1st quarter worth about $921,000. 89.21% of the stock is owned by institutional investors.

About OSI Systems

OSI Systems, Inc designs and manufactures electronic systems and components. It operates in three segments: Security, Healthcare, and Optoelectronics and Manufacturing. The Security segment offers baggage and parcel inspection, cargo and vehicle inspection, hold baggage and people screening, radiation monitoring, explosive and narcotics trace detection systems, and optical inspection systems under the Rapiscan name.