Mercury Systems, Inc. (NASDAQ:MRCY) Receives Average Rating of “Reduce” from Analysts

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) have earned an average rating of “Reduce” from the seven analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $29.88.

A number of analysts have commented on the company. The Goldman Sachs Group decreased their target price on Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, February 8th. Jefferies Financial Group downgraded Mercury Systems from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $35.00 to $30.00 in a research report on Wednesday, January 3rd. Truist Financial downgraded Mercury Systems from a “buy” rating to a “hold” rating and reduced their price objective for the company from $48.00 to $28.00 in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada dropped their target price on Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 7th.

Insider Transactions at Mercury Systems

In other Mercury Systems news, CFO David E. Farnsworth purchased 3,567 shares of Mercury Systems stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $28.09 per share, with a total value of $100,197.03. Following the completion of the acquisition, the chief financial officer now owns 126,618 shares of the company’s stock, valued at approximately $3,556,699.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO David E. Farnsworth bought 3,567 shares of Mercury Systems stock in a transaction on Friday, February 9th. The shares were bought at an average price of $28.09 per share, with a total value of $100,197.03. Following the acquisition, the chief financial officer now directly owns 126,618 shares in the company, valued at approximately $3,556,699.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephanie Georges sold 1,409 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $41,664.13. Following the transaction, the executive vice president now directly owns 38,319 shares in the company, valued at approximately $1,133,092.83. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 14,133 shares of company stock valued at $398,311 and sold 3,510 shares valued at $103,685. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Mercury Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Mercury Systems by 11.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 291,200 shares of the technology company’s stock worth $10,649,000 after purchasing an additional 30,700 shares during the period. Vanguard Group Inc. increased its position in Mercury Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,669,352 shares of the technology company’s stock valued at $207,328,000 after acquiring an additional 53,387 shares during the period. Wellington Management Group LLP increased its position in Mercury Systems by 2.7% in the 4th quarter. Wellington Management Group LLP now owns 46,903 shares of the technology company’s stock valued at $1,715,000 after acquiring an additional 1,251 shares during the period. Price T Rowe Associates Inc. MD increased its position in Mercury Systems by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,266 shares of the technology company’s stock valued at $1,180,000 after acquiring an additional 1,591 shares during the period. Finally, Cim Investment Management Inc. increased its position in Mercury Systems by 36.1% in the 4th quarter. Cim Investment Management Inc. now owns 9,990 shares of the technology company’s stock valued at $365,000 after acquiring an additional 2,650 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $29.50 on Monday. The company has a current ratio of 4.36, a quick ratio of 2.79 and a debt-to-equity ratio of 0.41. Mercury Systems has a twelve month low of $25.31 and a twelve month high of $52.95. The stock has a 50 day moving average of $29.45 and a two-hundred day moving average of $33.58. The stock has a market cap of $1.75 billion, a P/E ratio of -19.80 and a beta of 0.70.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, February 6th. The technology company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.48). Mercury Systems had a negative return on equity of 2.62% and a negative net margin of 9.54%. The business had revenue of $197.46 million for the quarter, compared to analyst estimates of $215.41 million. On average, research analysts forecast that Mercury Systems will post -1.36 earnings per share for the current 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.