Mercury Systems (NASDAQ:MRCY) PT Lowered to $26.00 at Truist Financial

Mercury Systems (NASDAQ:MRCY) had its price objective lowered by research analysts at Truist Financial from $28.00 to $26.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Truist Financial’s target price points to a potential downside of 2.99% from the stock’s current price.

Several other equities analysts also recently weighed in on MRCY. Royal Bank of Canada reduced their target price on shares of 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. The Goldman Sachs Group reduced their target price on shares of Mercury Systems from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, February 8th. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, Mercury Systems has an average rating of “Hold” and a consensus target price of $29.63.

Mercury Systems Stock Performance

Shares of MRCY stock traded down $2.31 during trading hours on Wednesday, hitting $26.80. 163,881 shares of the company were exchanged, compared to its average volume of 519,148. The company has a current ratio of 4.36, a quick ratio of 2.79 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -18.44 and a beta of 0.68. The firm has a fifty day simple moving average of $28.84 and a 200 day simple moving average of $31.80. Mercury Systems has a 52-week low of $25.31 and a 52-week high of $43.84.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.48). The firm had revenue of $197.46 million for the quarter, compared to the consensus estimate of $215.41 million. Mercury Systems had a negative return on equity of 2.62% and a negative net margin of 9.54%. Research analysts predict that Mercury Systems will post -1.4 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Stephanie Georges sold 1,409 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.57, for a total value of $41,664.13. Following the completion of the transaction, the executive vice president now directly owns 38,319 shares in the company, valued at $1,133,092.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Stephanie Georges sold 1,409 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.57, for a total value of $41,664.13. Following the completion of the transaction, the executive vice president now directly owns 38,319 shares in the company, valued at $1,133,092.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Charles Roger Iv Wells sold 1,696 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.57, for a total transaction of $50,150.72. Following the completion of the transaction, the chief operating officer now owns 105,427 shares of the company’s stock, valued at $3,117,476.39. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 14,133 shares of company stock worth $398,311 and sold 3,510 shares worth $103,685. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

Several hedge funds have recently bought and sold shares of the stock. William Blair Investment Management LLC lifted its position in Mercury Systems by 25.6% during the third quarter. William Blair Investment Management LLC now owns 6,749,562 shares of the technology company’s stock valued at $250,341,000 after purchasing an additional 1,376,905 shares during the last quarter. Vanguard Group Inc. lifted its position in Mercury Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,669,352 shares of the technology company’s stock valued at $207,328,000 after purchasing an additional 53,387 shares during the last quarter. JANA Partners Management LP bought a new stake in Mercury Systems during the third quarter valued at approximately $174,518,000. Conestoga Capital Advisors LLC lifted its position in Mercury Systems by 13.4% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,450,459 shares of the technology company’s stock valued at $89,613,000 after purchasing an additional 288,973 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Mercury Systems by 19.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,974,504 shares of the technology company’s stock valued at $72,208,000 after purchasing an additional 325,549 shares during the last quarter. 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.