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November 15, 2012
10:39 EDTOSISOSI Systems plunges after congressman accuses unit of fraud
OSI Systems (OSIS) is tumbling after a key congressman said the company may have committed fraud by "knowingly manipulating" the results of an operational test, Bloomberg reported last night. In a November 13 letter to Transportation Security Administration head John Pistol, Republican Congressman Mike Rogers, the chairman of the House Transportation Security Subcommittee, wrote that his panel had received a tip indicating that OSI had faked a test, the news service explained. OSI's Rapsican unit could be hit with fines, prison terms and a ban on receiving government contracts in the future if the allegation is proven, Bloomberg quoted Dan Gordon, a former head of federal procurement as saying. In mid-morning trading, OSI Systems plummeted $15.47, or 20.27%, to $60.82.
News For OSIS From The Last 14 Days
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January 27, 2015
08:48 EDTOSISOSI Systems should be bought ahead of catalysts, says Roth Capital
Roth Capital believes that OSI Systems has a number of upcoming deal announcements that should set the stage for the company to grow in fiscal 2016. The firm reiterates a $90 price target and Buy rating on the shares.
January 26, 2015
08:36 EDTOSISOSI Systems raises FY15 EPS view to $3.54-$3.76, consensus $3.57
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08:34 EDTOSISOSI Systems reports Q2 EPS 96c, consensus 95c
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January 22, 2015
08:10 EDTOSISOSI Systems awarded contract from Premier, Inc
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