Brokerages Set Mercury Systems Inc (NASDAQ:MRCY) Target Price at $50.29

Shares of Mercury Systems Inc (NASDAQ:MRCY) have received an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $50.29.

A number of equities research analysts recently commented on MRCY shares. JPMorgan Chase & Co. raised their price objective on shares of Mercury Systems from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Truist Financial lifted their price target on shares of Mercury Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. The Goldman Sachs Group lifted their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Monday, May 12th. Finally, Royal Bank Of Canada lifted their price target on shares of Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 3rd.

Insider Activity at Mercury Systems

In related news, EVP Steven Ratner sold 3,892 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total value of $185,648.40. Following the completion of the transaction, the executive vice president owned 56,187 shares of the company’s stock, valued at $2,680,119.90. This represents a 6.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the transaction, the director directly owned 6,861,313 shares of the company’s stock, valued at approximately $317,472,952.51. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 93,883 shares of company stock valued at $4,362,791. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Mercury Systems

Several large investors have recently modified their holdings of the company. Millennium Management LLC boosted its holdings in Mercury Systems by 196.1% during the fourth quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock worth $42,987,000 after purchasing an additional 677,894 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Mercury Systems by 1,479.5% during the first quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company’s stock worth $21,228,000 after purchasing an additional 461,449 shares during the last quarter. First Trust Advisors LP boosted its holdings in Mercury Systems by 50.8% during the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company’s stock worth $41,535,000 after purchasing an additional 333,109 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after purchasing an additional 290,989 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in Mercury Systems by 146.9% during the fourth quarter. Kennedy Capital Management LLC now owns 466,177 shares of the technology company’s stock worth $19,579,000 after purchasing an additional 277,355 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $50.09 on Friday. Mercury Systems has a 12-month low of $31.66 and a 12-month high of $54.32. The company has a quick ratio of 2.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $2.99 billion, a PE ratio of -44.72, a price-to-earnings-growth ratio of 10.60 and a beta of 0.71. The firm has a 50-day moving average price of $49.95 and a 200 day moving average price of $46.54.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $211.36 million during the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative net margin of 7.33% and a negative return on equity of 0.77%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.26) earnings per share. Research analysts anticipate that Mercury Systems will post -0.08 earnings per share for the current fiscal year.

About Mercury Systems

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.