OSI Systems (NASDAQ:OSIS) Reaches New 12-Month High on Better-Than-Expected Earnings

OSI Systems, Inc. (NASDAQ:OSIS)’s share price reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $197.70 and last traded at $187.15, with a volume of 122345 shares changing hands. The stock had previously closed at $169.01.

The technology company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.34 by $0.08. OSI Systems had a net margin of 8.31% and a return on equity of 18.17%.

Analysts Set New Price Targets

A number of brokerages have issued reports on OSIS. Wells Fargo & Company boosted their price target on shares of OSI Systems from $172.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. StockNews.com upgraded OSI Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Bank of America initiated coverage on OSI Systems in a report on Monday, September 30th. They set a “buy” rating and a $175.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Insider Buying and Selling

In other news, insider Manoocher M. Aliabadi sold 2,509 shares of OSI Systems stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $180.02, for a total transaction of $451,670.18. Following the sale, the insider now owns 78,094 shares in the company, valued at approximately $14,058,481.88. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Deepak Chopra sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $153.42, for a total value of $2,301,300.00. Following the transaction, the chief executive officer now owns 424,323 shares in the company, valued at $65,099,634.66. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,591 shares of company stock worth $7,557,745 over the last 90 days. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in shares of OSI Systems by 0.9% during the third quarter. State Street Corp now owns 727,690 shares of the technology company’s stock worth $110,485,000 after buying an additional 6,514 shares during the last quarter. Park Avenue Securities LLC lifted its position in OSI Systems by 36.0% during the 4th quarter. Park Avenue Securities LLC now owns 6,275 shares of the technology company’s stock worth $1,051,000 after acquiring an additional 1,660 shares during the period. Victory Capital Management Inc. lifted its position in OSI Systems by 25.8% during the 3rd quarter. Victory Capital Management Inc. now owns 123,213 shares of the technology company’s stock worth $18,707,000 after acquiring an additional 25,262 shares during the period. Renaissance Technologies LLC grew its stake in shares of OSI Systems by 79.8% in the 2nd quarter. Renaissance Technologies LLC now owns 25,683 shares of the technology company’s stock valued at $3,532,000 after purchasing an additional 11,400 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of OSI Systems in the third quarter valued at approximately $443,000. 89.21% of the stock is currently owned by institutional investors and hedge funds.

OSI Systems Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.84 and a quick ratio of 1.20. The company has a 50 day moving average price of $170.17 and a 200 day moving average price of $153.24. The firm has a market cap of $3.10 billion, a PE ratio of 24.28, a PEG ratio of 1.47 and a beta of 1.19.

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.