Mercury Systems (NASDAQ:MRCY) had its price target reduced by equities researchers at Bank of America from $60.00 to $50.00 in a research report issued on Thursday. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America’s price objective would suggest a potential upside of 11.11% from the stock’s previous close.

MRCY has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective for the company in a report on Thursday, January 11th. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a report on Thursday, October 26th. SunTrust Banks reiterated a “buy” rating and set a $61.00 price objective on shares of Mercury Systems in a report on Tuesday, January 9th. Robert W. Baird reiterated a “buy” rating and set a $48.00 price objective on shares of Mercury Systems in a report on Tuesday, October 24th. Finally, BidaskClub cut shares of Mercury Systems from a “sell” rating to a “strong sell” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $54.71.

Mercury Systems (MRCY) opened at $45.00 on Thursday. The stock has a market cap of $2,017.51, a PE ratio of 48.91, a PEG ratio of 3.60 and a beta of 0.33. Mercury Systems has a twelve month low of $35.03 and a twelve month high of $55.00.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $117.90 million for the quarter, compared to analyst estimates of $114.89 million. Mercury Systems had a net margin of 9.61% and a return on equity of 6.32%. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. equities research analysts expect that Mercury Systems will post 1.09 EPS for the current fiscal year.

In related news, COO Didier M. C. Thibaud sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $48.00, for a total transaction of $168,000.00. Following the transaction, the chief operating officer now directly owns 362,440 shares of the company’s stock, valued at $17,397,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Aslett sold 9,600 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $52.17, for a total transaction of $500,832.00. The disclosure for this sale can be found here. Insiders have sold 70,600 shares of company stock worth $3,558,499 over the last three months. 3.50% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. Teachers Advisors LLC lifted its position in shares of Mercury Systems by 5.8% during the second quarter. Teachers Advisors LLC now owns 85,538 shares of the technology company’s stock valued at $3,600,000 after purchasing an additional 4,654 shares in the last quarter. Amalgamated Bank lifted its position in shares of Mercury Systems by 5.4% during the second quarter. Amalgamated Bank now owns 6,290 shares of the technology company’s stock valued at $265,000 after purchasing an additional 321 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Mercury Systems by 62.4% during the second quarter. UBS Asset Management Americas Inc. now owns 25,116 shares of the technology company’s stock valued at $1,057,000 after purchasing an additional 9,648 shares in the last quarter. Northern Trust Corp lifted its position in shares of Mercury Systems by 5.9% during the second quarter. Northern Trust Corp now owns 886,956 shares of the technology company’s stock valued at $37,331,000 after purchasing an additional 49,281 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Mercury Systems by 4.6% during the second quarter. Vanguard Group Inc. now owns 4,118,060 shares of the technology company’s stock valued at $173,329,000 after purchasing an additional 180,028 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

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About Mercury Systems

Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.

Analyst Recommendations for Mercury Systems (NASDAQ:MRCY)

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