Mercury Systems (MRCY) Price Target Cut to $50.00
Mercury Systems (NASDAQ:MRCY) had its price target cut by Bank of America from $60.00 to $50.00 in a research report report published on Thursday. They currently have a buy rating on the technology company’s stock.
MRCY has been the topic of a number of other reports. Zacks Investment Research raised Mercury Systems from a hold rating to a strong-buy rating and set a $59.00 price target on the stock in a research note on Thursday, January 11th. Noble Financial reissued a hold rating on shares of Mercury Systems in a research note on Thursday, October 26th. SunTrust Banks reissued a buy rating and set a $61.00 target price on shares of Mercury Systems in a research note on Tuesday, January 9th. Robert W. Baird reissued a buy rating and set a $48.00 target price on shares of Mercury Systems in a research note on Tuesday, October 24th. Finally, BidaskClub cut Mercury Systems from a sell rating to a strong sell rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $54.71.
Mercury Systems (NASDAQ:MRCY) traded up $1.85 during trading hours on Thursday, reaching $43.67. The company had a trading volume of 394,800 shares, compared to its average volume of 465,045. The company has a market cap of $2,162.23, a P/E ratio of 46.63, a price-to-earnings-growth ratio of 3.86 and a beta of 0.33. Mercury Systems has a one year low of $35.03 and a one year high of $55.00.
In related news, COO Didier M. C. Thibaud sold 3,500 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $49.52, for a total value of $173,320.00. Following the sale, the chief operating officer now directly owns 379,940 shares of the company’s stock, valued at $18,814,628.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark Aslett sold 9,600 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $52.17, for a total value of $500,832.00. The disclosure for this sale can be found here. Insiders have sold 70,600 shares of company stock worth $3,558,499 over the last three months. Insiders own 3.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of MRCY. Westfield Capital Management Co. LP bought a new stake in Mercury Systems in the third quarter worth $14,576,000. State Street Corp boosted its holdings in Mercury Systems by 13.2% in the second quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock worth $70,906,000 after acquiring an additional 196,075 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Mercury Systems by 4.6% in the second quarter. Vanguard Group Inc. now owns 4,118,060 shares of the technology company’s stock worth $173,329,000 after acquiring an additional 180,028 shares in the last quarter. Bamco Inc. NY boosted its holdings in Mercury Systems by 8.9% in the third quarter. Bamco Inc. NY now owns 1,226,000 shares of the technology company’s stock worth $63,605,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Mercury Systems by 360.1% in the third quarter. Allianz Asset Management GmbH now owns 86,657 shares of the technology company’s stock worth $4,496,000 after acquiring an additional 67,821 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.
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About Mercury Systems
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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