OSI Systems (NASDAQ:OSIS) Stock Rating Lowered by Zacks Investment Research

OSI Systems (NASDAQ:OSIS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

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. “

A number of other brokerages have also recently issued reports on OSIS. Oppenheimer reissued a “buy” rating and issued a $120.00 target price on shares of OSI Systems in a research report on Friday, October 8th. Roth Capital upped their price objective on shares of OSI Systems from $122.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, August 19th. Finally, B. Riley boosted their target price on OSI Systems from $118.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $122.40.

OSIS stock opened at $93.55 on Friday. The company has a fifty day moving average price of $94.72 and a two-hundred day moving average price of $96.74. OSI Systems has a one year low of $87.49 and a one year high of $102.24. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.49 and a beta of 0.71.

OSI Systems (NASDAQ:OSIS) last released its quarterly earnings data on Thursday, October 28th. The technology company reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.04. The firm had revenue of $279.30 million during the quarter, compared to analysts’ expectations of $270.40 million. OSI Systems had a net margin of 7.15% and a return on equity of 16.15%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 earnings per share. Research analysts expect that OSI Systems will post 5.82 EPS for the current fiscal year.

In other news, General Counsel Victor S. Sze sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $96.92, for a total transaction of $1,453,800.00. Following the completion of the sale, the general counsel now directly owns 231,363 shares of the company’s stock, valued at approximately $22,423,701.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Deepak Chopra sold 25,000 shares of the firm’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $92.37, for a total value of $2,309,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,589 shares of company stock worth $7,648,147. 5.70% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Aurora Investment Counsel increased its holdings in OSI Systems by 1.0% in the 3rd quarter. Aurora Investment Counsel now owns 12,392 shares of the technology company’s stock worth $1,175,000 after acquiring an additional 118 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in OSI Systems by 40.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 3,500 shares of the technology company’s stock worth $332,000 after acquiring an additional 1,000 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in OSI Systems in the 3rd quarter worth about $284,000. Two Sigma Investments LP purchased a new stake in OSI Systems in the 3rd quarter worth about $539,000. Finally, Millennium Management LLC increased its holdings in OSI Systems by 56.2% in the 3rd quarter. Millennium Management LLC now owns 135,386 shares of the technology company’s stock worth $12,835,000 after acquiring an additional 48,730 shares during the last quarter. 94.70% of the stock is owned by hedge funds and other institutional investors.

About OSI Systems

OSI Systems, Inc designs and manufactures specialized electronic systems and components for critical applications. The firm operates through the following segments: Security, Healthcare, and Optoelectronics and Manufacturing. The Security segment provides security inspection systems and related services, and turnkey security screening solutions.

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