Mercury Systems (NASDAQ:MRCY – Free Report) had its price objective cut by Royal Bank of Canada from $35.00 to $30.00 in a report released on Wednesday, Benzinga reports. They currently have a sector perform rating on the technology company’s stock.
Several other equities research analysts have also weighed in on MRCY. Truist Financial lowered shares of Mercury Systems from a buy rating to a hold rating and lowered their target price for the stock from $48.00 to $28.00 in a report on Wednesday. The Goldman Sachs Group reaffirmed a sell rating and issued a $24.00 target price (down previously from $37.00) on shares of Mercury Systems in a report on Wednesday, January 10th. Bank of America reaffirmed an underperform rating and issued a $30.00 target price on shares of Mercury Systems in a report on Wednesday, November 29th. Finally, Jefferies Financial Group lowered shares of Mercury Systems from a hold rating to an underperform rating and lowered their target price for the stock from $35.00 to $30.00 in a report on Wednesday, January 3rd. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $30.25.
Mercury Systems Trading Down 11.4 %
Mercury Systems (NASDAQ:MRCY – Get Free Report) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.32). The business had revenue of $180.99 million during the quarter, compared to the consensus estimate of $218.16 million. Mercury Systems had a negative net margin of 9.54% and a negative return on equity of 2.60%. Analysts expect that Mercury Systems will post 0.48 earnings per share for the current fiscal year.
Insider Buying and Selling at Mercury Systems
In other Mercury Systems news, Director Jana Partners Management, Lp bought 63,648 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were bought at an average cost of $34.22 per share, for a total transaction of $2,178,034.56. Following the transaction, the director now owns 5,217,272 shares in the company, valued at approximately $178,535,047.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have acquired 343,948 shares of company stock worth $11,497,640. Company insiders own 1.80% of the company’s stock.
Institutional Trading of Mercury Systems
A number of hedge funds have recently modified their holdings of MRCY. VisionPoint Advisory Group LLC raised its position in shares of Mercury Systems by 110.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 715 shares of the technology company’s stock valued at $27,000 after acquiring an additional 376 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Mercury Systems in the 3rd quarter valued at approximately $33,000. Point72 Middle East FZE acquired a new stake in shares of Mercury Systems in the 4th quarter valued at approximately $35,000. Pinebridge Investments L.P. raised its position in shares of Mercury Systems by 208.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,853 shares of the technology company’s stock valued at $64,000 after acquiring an additional 1,253 shares during the period. Finally, Northwest Capital Management Inc acquired a new stake in shares of Mercury Systems in the 2nd quarter valued at approximately $95,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.
Mercury Systems Company Profile
Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.
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