OSI Systems (NASDAQ:OSIS) Shares Gap Up After Better-Than-Expected Earnings

OSI Systems, Inc. (NASDAQ:OSIS) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $142.15, but opened at $152.15. OSI Systems shares last traded at $146.07, with a volume of 43,821 shares trading hands.

The technology company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.19. The firm had revenue of $344.01 million during the quarter, compared to analyst estimates of $318.66 million. OSI Systems had a return on equity of 17.80% and a net margin of 8.33%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS.

Analyst Ratings Changes

Several equities research analysts recently commented on OSIS shares. B. Riley boosted their price objective on shares of OSI Systems from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Roth Mkm boosted their price target on OSI Systems from $172.00 to $178.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Bank of America started coverage on OSI Systems in a research report on Monday, September 30th. They set a “buy” rating and a $175.00 price objective for the company. Finally, Wells Fargo & Company started coverage on OSI Systems in a report on Wednesday, September 18th. They issued an “overweight” rating and a $170.00 target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $172.60.

Insider Buying and Selling

In other OSI Systems news, CEO Deepak Chopra sold 20,000 shares of the 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 directly owns 459,033 shares in the company, valued at approximately $66,523,062.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other OSI Systems news, insider Paul Keith Morben sold 1,107 shares of the business’s stock in a transaction dated 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 owns 10,077 shares of the company’s stock, valued at approximately $1,461,568.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Deepak Chopra sold 20,000 shares of the firm’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 sale, the chief executive officer now directly owns 459,033 shares in the company, valued at approximately $66,523,062.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,107 shares of company stock worth $3,474,189 in the last three months. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quest Partners LLC bought a new stake in OSI Systems in the 2nd quarter worth approximately $40,000. Cape Investment Advisory Inc. purchased a new position in shares of OSI Systems during the 1st quarter valued at about $63,000. Covestor Ltd grew its stake in shares of OSI Systems by 48,000.0% during the 1st quarter. Covestor Ltd now owns 481 shares of the technology company’s stock valued at $69,000 after acquiring an additional 480 shares during the period. Innealta Capital LLC bought a new stake in OSI Systems during the 2nd quarter worth approximately $82,000. Finally, International Assets Investment Management LLC boosted its position in shares of OSI Systems by 15,075.0% in the third quarter. International Assets Investment Management LLC now owns 607 shares of the technology company’s stock worth $92,000 after purchasing an additional 603 shares during the period. 89.21% of the stock is owned by hedge funds and other institutional investors.

OSI Systems Trading Down 2.4 %

The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $145.19 and its 200-day moving average price is $141.44. The stock has a market capitalization of $2.23 billion, a PE ratio of 18.26, a PEG ratio of 1.33 and a beta of 1.08.

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.