OSI Systems (NASDAQ:OSIS) announced that its Board of Directors has authorized a stock buyback plan, which permits the company to repurchase 1,000,000 shares on Tuesday, March 6th, EventVestor reports. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts have recently commented on the company. BidaskClub raised OSI Systems from a “strong sell” rating to a “sell” rating in a report on Friday, December 22nd. Sidoti initiated coverage on OSI Systems in a research note on Wednesday, February 21st. They set a “buy” rating for the company. Zacks Investment Research upgraded OSI Systems from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Wednesday, December 27th. Jefferies Group downgraded OSI Systems from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $79.00 to $70.00 in a research report on Friday, February 2nd. They noted that the move was a valuation call. Finally, TheStreet downgraded OSI Systems from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $85.80.
OSI Systems stock opened at $67.67 on Monday. OSI Systems has a twelve month low of $50.50 and a twelve month high of $96.64. The stock has a market capitalization of $1,287.05, a P/E ratio of -58.84, a PEG ratio of 1.43 and a beta of 0.89. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.46.
In other news, Director Meyer/ Luskin bought 20,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was bought at an average cost of $56.79 per share, with a total value of $1,135,800.00. Following the purchase, the director now owns 10,376 shares of the company’s stock, valued at $589,253.04. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 7.60% of the company’s stock.
OSI Systems Company Profile
OSI Systems, Inc, through its subsidiaries, is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. The Company sells its products and provides related services in diversified markets, including homeland security, healthcare, defense and aerospace.
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