OSI Systems’ Spacelabs Gains $4M Order; Street Remains Bullish

OSI Systems’ healthcare division, Spacelabs Healthcare, has received an order worth $4 million from a U.S. hospital to provide patient monitoring solutions services.

OSI Systems (OSIS), the electronic systems and components manufacturer, said that it would install its Xhibit Central Stations, Qube patient monitoring, and AriaTele telemetry, and provide patient monitoring, telemetry, and other accessories.

The company’s CEO Deepak Chopra said, “We are excited to receive this award and look forward to supporting the hospital’s infrastructure expansion.” (See OSI Systems stock analysis on TipRanks).

On March 29, Oppenheimer analyst Christopher Glynn said, “We continue to emphasize business model execution runway over the next couple years, anchored by emerging transformative commercial strategies lifting Optoelectronics & Manufacturing (O&M) and Healthcare; plus cyclical recovery at Security paired with strong volume leverage position from restructuring traction.”

Overall, the rest of the Street has a bullish outlook on the stock, with a Strong Buy consensus rating based on 3 unanimous Buys. The average analyst price target of $108 implies upside potential of about 11.1% to current levels. Shares have gained about 50.9% in one year.

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