OSI Systems (NASDAQ:OSIS) Now Covered by Citigroup

Key Points

• Citigroup initiated coverage on OSI Systems with a Buy rating and a $345 price target, implying about a 14.6% upside from the prior close.
• OSI beat quarterly expectations with EPS of $2.58 vs. $2.52 and revenue of $464.06M (up 10.5% YoY), and analysts forecast roughly 9.22 EPS for the current year.
• Director Deepak Chopra sold 20,000 shares at $250.91 (~$5.02M), while insiders own 4.30% of the stock and institutional investors hold about 89.21%.

Equities researchers at Citigroup began coverage on shares of OSI Systems (NASDAQ:OSIS - Get Free Report) in a research report issued on Wednesday, Marketbeat reports. The brokerage set a "buy" rating and a $345.00 price target on the technology company's stock. Citigroup's price target would suggest a potential upside of 14.59% from the stock's previous close.

A number of other analysts also recently commented on OSIS. Roth Mkm raised their price objective on OSI Systems from $292.00 to $295.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Weiss Ratings downgraded shares of OSI Systems from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday. B. Riley Financial raised their price objective on shares of OSI Systems from $300.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of OSI Systems from $255.00 to $262.00 and gave the stock a "neutral" rating in a research note on Monday, February 2nd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $301.29.

OSI Systems Stock Performance

NASDAQ OSIS opened at $301.08 on Wednesday. The company's fifty day moving average is $279.99 and its two-hundred day moving average is $269.81. OSI Systems has a 52-week low of $186.16 and a 52-week high of $309.73. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.15 and a quick ratio of 2.31. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 2.50 and a beta of 1.34.

OSI Systems (NASDAQ:OSIS - Get Free Report) last released its earnings results on Thursday, January 29th. The technology company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.06. OSI Systems had a net margin of 8.52% and a return on equity of 18.58%. The business had revenue of $464.06 million during the quarter, compared to analysts' expectations of $449.51 million. During the same quarter last year, the company earned $2.42 earnings per share. The firm's revenue was up 10.5% on a year-over-year basis. Equities research analysts forecast that OSI Systems will post 9.22 EPS for the current year.

Insider Transactions at OSI Systems

In related news, Director Deepak Chopra sold 20,000 shares of OSI Systems stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $250.91, for a total transaction of $5,018,200.00. Following the completion of the transaction, the director directly owned 273,044 shares of the company's stock, valued at $68,509,470.04. This trade represents a 6.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in shares of OSI Systems by 5.9% during the third quarter. Envestnet Asset Management Inc. now owns 94,574 shares of the technology company's stock worth $23,572,000 after purchasing an additional 5,240 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in shares of OSI Systems by 67.0% in the third quarter. Mawer Investment Management Ltd. now owns 856,383 shares of the technology company's stock valued at $213,445,000 after buying an additional 343,727 shares during the last quarter. Osaic Holdings Inc. lifted its position in OSI Systems by 418.1% during the 2nd quarter. Osaic Holdings Inc. now owns 32,688 shares of the technology company's stock worth $7,350,000 after buying an additional 26,379 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in OSI Systems by 112.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 18,230 shares of the technology company's stock worth $4,659,000 after buying an additional 9,646 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in OSI Systems by 33.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 30,864 shares of the technology company's stock worth $7,693,000 after acquiring an additional 7,664 shares during the last quarter. 89.21% of the stock is owned by institutional investors and hedge funds.

About OSI Systems

OSI Systems, Inc NASDAQ: OSIS is a publicly traded technology company founded in 1987 and headquartered in Hawthorne, California. The company designs, develops and manufactures advanced security and inspection systems, optoelectronic devices and medical imaging equipment. Over its history, OSI Systems has grown its product offerings through internal research and development as well as strategic acquisitions, expanding its capabilities in mission-critical sensing and inspection technologies.

OSI Systems operates three primary business segments.

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