From Nasdaq:

OSI Systems, Inc. (OSIS) has seen its shares surge 52.1% in the last 12 months, outperforming the Zacks Computer & Technology sector’s growth of 45.1%. The company’s Healthcare, Optoelectronics and Manufacturing, and Security divisions are all benefiting from recent order wins and expanding order books.

For example, the Healthcare division, Spacelabs Healthcare, recently received an order valued at approximately $5 million to install a range of patient monitoring tools in a U.S.-based hospital.

OSI Systems’ Security division was awarded a contract valued at approximately $18 million, while the prospects for the company’s Optoelectronics and Manufacturing divisions also look strong. The company exited the reported quarter with a backlog of nearly $1.8 billion, particularly in the Security and Optoelectronics and Manufacturing divisions and is expecting robust performance in fiscal 2024.

Currently OSI Systems carries a Zacks Rank #3 (Hold). Some other top-ranked stocks in the broader sector include BlackLine (BL), Ceridian HCM (CDAY), and Meta Platforms (META), each sporting a Zacks Rank #1 (Strong Buy).

OSI Systems is expecting revenues to increase more than 18% over fiscal 2023, and earnings to grow more than 27% year over year. Specifically, the Zacks Consensus Estimate for fiscal 2024 revenues is $1.51 billion, indicating 25.17% year-over-year growth, with earnings expected to be $7.90 per share, indicating year-over-year growth of 27.21%.

With the company’s performance looking strong, it’s definitely a stock to watch in 2024.



Read more: OSI Systems (OSIS) Rides on Expanding Order Book & Clientele