OSI Systems Inc. (NASDAQ:OSIS) shares rose 2.4% on Wednesday . The stock traded as high as $62.31 and last traded at $61.78, with a volume of 142,194 shares. The stock had previously closed at $60.35.

OSIS has been the topic of several research reports. Zacks Investment Research upgraded shares of OSI Systems from a “strong sell” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Wednesday, June 29th. BB&T Corp. upgraded shares of OSI Systems from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, May 9th. CJS Securities initiated coverage on shares of OSI Systems in a report on Tuesday, June 14th. They set a “market outperform” rating and a $68.00 price objective on the stock. Benchmark Co. upgraded shares of OSI Systems from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, June 21st. Finally, B. Riley restated a “buy” rating and set a $65.00 price objective on shares of OSI Systems in a report on Friday. Eight equities research analysts have rated the stock with a buy rating, OSI Systems currently has an average rating of “Buy” and an average price target of $75.14.

The stock has a market capitalization of $1.16 billion and a P/E ratio of 29.30. The company’s 50 day moving average is $58.96 and its 200 day moving average is $58.03.

A number of hedge funds recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its stake in OSI Systems by 2.4% in the fourth quarter. Rhumbline Advisers now owns 31,765 shares of the company’s stock valued at $2,816,000 after buying an additional 735 shares during the period. California Public Employees Retirement System boosted its stake in OSI Systems by 19.2% in the fourth quarter. California Public Employees Retirement System now owns 51,000 shares of the company’s stock valued at $4,522,000 after buying an additional 8,200 shares during the period. Aberdeen Asset Management PLC UK bought a new stake in OSI Systems during the fourth quarter valued at $5,887,000. Foresters Investment Management Company Inc. boosted its stake in OSI Systems by 0.9% in the fourth quarter. Foresters Investment Management Company Inc. now owns 111,000 shares of the company’s stock valued at $9,841,000 after buying an additional 1,000 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in OSI Systems by 4.3% in the fourth quarter. Principal Financial Group Inc. now owns 124,592 shares of the company’s stock valued at $11,046,000 after buying an additional 5,144 shares during the period.

OSI Systems, Inc 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. The Company has three operating divisions: Security, Healthcare, and Optoelectronics and Manufacturing.

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