Analysts Set Mercury Systems Inc (NASDAQ:MRCY) Price Target at $95.78

Mercury Systems Inc (NASDAQ:MRCY) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, three have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $95.7778.

MRCY has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research report on Friday, July 17th. Zacks Research raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. raised their price target on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group upped their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th.

Mercury Systems Trading Down 9.3%

Shares of Mercury Systems stock opened at $90.17 on Thursday. Mercury Systems has a 1 year low of $50.13 and a 1 year high of $128.45. The firm has a market cap of $5.41 billion, a PE ratio of -375.71 and a beta of 0.93. The stock has a fifty day moving average price of $108.51 and a 200-day moving average price of $94.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. The company had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. Equities research analysts anticipate that Mercury Systems will post 0.35 EPS for the current year.

Insider Buying and Selling at Mercury Systems

In other news, EVP Steven Ratner sold 2,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $92.46, for a total transaction of $184,920.00. Following the transaction, the executive vice president owned 32,238 shares of the company’s stock, valued at $2,980,725.48. This represents a 5.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the sale, the director directly owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,250 shares of company stock worth $1,733,220 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

Several large investors have recently modified their holdings of the business. Osaic Holdings Inc. lifted its stake in shares of Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after buying an additional 208 shares in the last quarter. Leonteq Securities AG bought a new position in Mercury Systems in the 4th quarter worth approximately $35,000. Hollencrest Capital Management purchased a new position in Mercury Systems in the 4th quarter valued at approximately $37,000. Federated Hermes Inc. purchased a new position in Mercury Systems in the 2nd quarter valued at approximately $43,000. Finally, Rockefeller Capital Management L.P. raised its holdings in Mercury Systems by 53.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after acquiring an additional 228 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

About Mercury Systems

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.