The Goldman Sachs Group Issues Positive Forecast for Mercury Systems (NASDAQ:MRCY) Stock Price

Mercury Systems (NASDAQ:MRCY) had its target price hoisted by analysts at The Goldman Sachs Group from $30.00 to $33.00 in a report released on Monday,Benzinga reports. The firm presently has a “sell” rating on the technology company’s stock. The Goldman Sachs Group’s target price indicates a potential downside of 29.00% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada raised their target price on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. Baird R W raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $37.00 to $58.00 in a research report on Wednesday, February 5th. Finally, Truist Financial raised shares of Mercury Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $56.00 in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and an average price target of $46.71.

Mercury Systems Trading Up 0.3%

Mercury Systems stock traded up $0.14 during midday trading on Monday, reaching $46.48. The stock had a trading volume of 324,527 shares, compared to its average volume of 577,510. The stock has a market capitalization of $2.78 billion, a PE ratio of -29.79 and a beta of 0.70. The stock’s 50-day simple moving average is $46.16 and its 200 day simple moving average is $42.94. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. Mercury Systems has a twelve month low of $26.48 and a twelve month high of $52.25.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The business had revenue of $211.36 million during the quarter, compared to the consensus estimate of $204.25 million. During the same quarter in the prior year, the firm earned ($0.26) EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts expect that Mercury Systems will post -0.08 EPS for the current year.

Insider Buying and Selling at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 88,152 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the transaction, the director now owns 6,861,313 shares in the company, valued at $317,472,952.51. The trade was a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stuart Kupinsky sold 2,377 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $104,873.24. Following the transaction, the executive vice president now owns 62,834 shares of the company’s stock, valued at approximately $2,772,236.08. The trade was a 3.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,466 shares of company stock valued at $4,313,247. 1.60% of the stock is owned by company insiders.

Institutional Trading of Mercury Systems

A number of hedge funds have recently modified their holdings of MRCY. Neo Ivy Capital Management acquired a new stake in Mercury Systems during the fourth quarter worth $33,000. GAMMA Investing LLC increased its stake in Mercury Systems by 59.6% during the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after acquiring an additional 395 shares during the last quarter. Fifth Third Bancorp increased its stake in Mercury Systems by 53.8% during the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock worth $56,000 after acquiring an additional 451 shares during the last quarter. Sterling Capital Management LLC increased its stake in Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after acquiring an additional 1,449 shares during the last quarter. Finally, Nkcfo LLC acquired a new stake in Mercury Systems during the first quarter worth $72,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

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.