Mercury Systems (NASDAQ:MRCY) Price Target Raised to $109.00

Mercury Systems (NASDAQ:MRCY) had its price target upped by equities research analysts at Truist Financial from $102.00 to $109.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective points to a potential upside of 9.79% from the company’s previous close.

Several other research firms also recently commented on MRCY. Royal Bank Of Canada set a $95.00 price objective on Mercury Systems and gave the stock an “outperform” rating in a report on Wednesday, November 5th. The Goldman Sachs Group lifted their price target on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 target price on shares of Mercury Systems in a report on Wednesday, November 5th. Finally, Wall Street Zen lowered shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $85.88.

Mercury Systems Trading Up 5.7%

Shares of MRCY opened at $99.28 on Wednesday. Mercury Systems has a fifty-two week low of $39.89 and a fifty-two week high of $103.84. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -174.18, a PEG ratio of 4.16 and a beta of 0.75. The firm has a 50 day moving average price of $82.80 and a 200-day moving average price of $74.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.31 and a current ratio of 3.37.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.18. The company had revenue of $225.21 million for the quarter, compared to analysts’ expectations of $207.28 million. Mercury Systems had a negative net margin of 3.53% and a positive return on equity of 1.14%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS. As a group, equities research analysts forecast that Mercury Systems will post -0.08 earnings per share for the current year.

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 1,000,000 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the transaction, the director directly owned 4,966,675 shares of the company’s stock, valued at approximately $374,735,628.75. The trade was a 16.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Douglas Munro sold 1,329 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $73.42, for a total transaction of $97,575.18. Following the completion of the transaction, the chief accounting officer owned 14,678 shares of the company’s stock, valued at $1,077,658.76. This trade represents a 8.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,003,029 shares of company stock worth $75,673,358 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its position in Mercury Systems by 12.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 3,696 shares of the technology company’s stock valued at $270,000 after acquiring an additional 415 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC increased its stake in shares of Mercury Systems by 18.3% during the fourth quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 4,994 shares of the technology company’s stock valued at $365,000 after purchasing an additional 774 shares in the last quarter. Swedbank AB increased its stake in shares of Mercury Systems by 722.1% during the fourth quarter. Swedbank AB now owns 38,349 shares of the technology company’s stock valued at $2,800,000 after purchasing an additional 33,684 shares in the last quarter. Danske Bank A S lifted its holdings in shares of Mercury Systems by 882.0% during the fourth quarter. Danske Bank A S now owns 2,946 shares of the technology company’s stock valued at $215,000 after purchasing an additional 2,646 shares during the last quarter. Finally, Comerica Bank raised its stake in Mercury Systems by 31.7% during the fourth quarter. Comerica Bank now owns 292,098 shares of the technology company’s stock valued at $21,326,000 after buying an additional 70,233 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Company Profile

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.