Mercury Systems (NASDAQ:MRCY) Price Target Lowered to $80.00 at Jefferies Financial Group

Mercury Systems (NASDAQ:MRCY) had its target price reduced by Jefferies Financial Group from $85.00 to $80.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

A number of other analysts have also issued reports on the company. Canaccord Genuity Group set a $102.00 target price on Mercury Systems in a research report on Wednesday, February 4th. Truist Financial boosted their target price on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 target price on shares of Mercury Systems in a research report on Wednesday, February 4th. The Goldman Sachs Group boosted their target price on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Mercury Systems presently has an average rating of “Hold” and a consensus price target of $86.33.

Mercury Systems Stock Up 2.3%

MRCY stock opened at $77.53 on Tuesday. The firm has a market cap of $4.65 billion, a PE ratio of -146.28, a PEG ratio of 7.19 and a beta of 0.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. The firm’s 50 day moving average price is $83.32 and its 200-day moving average price is $80.14. Mercury Systems has a one year low of $42.00 and a one year high of $103.84.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The firm had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. On average, equities research analysts anticipate that Mercury Systems will post -0.08 EPS for the current year.

Insider Buying and Selling at Mercury Systems

In related news, Director Howard L. Lance sold 4,832 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $88.98, for a total transaction of $429,951.36. Following the completion of the transaction, the director owned 27,272 shares in the company, valued at approximately $2,426,662.56. The trade was a 15.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stuart Kupinsky sold 2,287 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $191,101.72. Following the transaction, the executive vice president owned 68,010 shares of the company’s stock, valued at approximately $5,682,915.60. The trade was a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 859,758 shares of company stock worth $74,481,931. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mercury Systems

Several large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new position in Mercury Systems in the fourth quarter valued at $248,000. Rockefeller Capital Management L.P. boosted its stake in Mercury Systems by 53.6% in the fourth 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 in the last quarter. Corient Private Wealth LLC boosted its stake in Mercury Systems by 35.7% in the fourth quarter. Corient Private Wealth LLC now owns 7,811 shares of the technology company’s stock valued at $573,000 after acquiring an additional 2,056 shares in the last quarter. Corecam Pte. Ltd. acquired a new position in Mercury Systems in the fourth quarter valued at $321,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Mercury Systems by 1.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after acquiring an additional 21,182 shares in the last quarter. Institutional investors and hedge funds 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.