Mercury Systems (NASDAQ:MRCY) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Mercury Systems (NASDAQ:MRCY) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $88.00 target price on the technology company’s stock.

MRCY has been the topic of several other research reports. Raymond James Financial raised Mercury Systems from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $55.00 to $80.00 in a report on Tuesday, August 12th. The Goldman Sachs Group raised their target price on shares of Mercury Systems from $35.00 to $39.00 and gave the company a “sell” rating in a research note on Wednesday, August 13th. Truist Financial boosted their price target on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Royal Bank Of Canada raised shares of Mercury Systems from a “hold” rating to a “moderate buy” rating in a report on Wednesday. Finally, Zacks Research downgraded shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mercury Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.67.

Mercury Systems Stock Up 1.7%

Shares of NASDAQ:MRCY opened at $82.56 on Thursday. The firm has a market cap of $4.96 billion, a P/E ratio of -125.09, a P/E/G ratio of 3.38 and a beta of 0.82. Mercury Systems has a 12-month low of $32.32 and a 12-month high of $83.45. The business has a fifty day simple moving average of $66.69 and a 200 day simple moving average of $54.94. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.26. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The firm had revenue of $273.11 million during the quarter, compared to the consensus estimate of $244.56 million. During the same period last year, the business posted $0.23 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Analysts predict that Mercury Systems will post -0.08 earnings per share for the current year.

Insider Transactions at Mercury Systems

In other Mercury Systems news, CEO William L. Ballhaus sold 13,050 shares of Mercury Systems stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $841,203.00. Following the sale, the chief executive officer directly owned 374,976 shares in the company, valued at approximately $24,170,952.96. The trade was a 3.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jana Partners Management, Lp sold 797,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the completion of the sale, the director owned 5,964,313 shares in the company, valued at $390,185,356.46. This represents a 11.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 848,980 shares of company stock worth $55,529,247. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Hedge funds have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P increased its stake in shares of Mercury Systems by 321.7% during the second quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock valued at $53,462,000 after buying an additional 757,216 shares during the period. MetLife Investment Management LLC increased its position in Mercury Systems by 1,479.5% during the 1st quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company’s stock valued at $21,228,000 after purchasing an additional 461,449 shares during the period. Emerald Advisers LLC purchased a new position in Mercury Systems during the 2nd quarter valued at about $24,599,000. Conestoga Capital Advisors LLC raised its holdings in shares of Mercury Systems by 13.3% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,558,935 shares of the technology company’s stock valued at $137,824,000 after purchasing an additional 300,749 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Mercury Systems by 51.6% in the 1st 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 period. 95.99% of the stock is currently owned by institutional investors.

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.