Mercury Systems (NASDAQ:MRCY) had its price target dropped by investment analysts at Bank of America from $60.00 to $50.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the technology company’s stock. Bank of America’s price target suggests a potential upside of 14.81% from the company’s previous close.
Several other brokerages have also issued reports on MRCY. Zacks Investment Research upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, December 27th. Noble Financial restated a “hold” rating on shares of Mercury Systems in a research note on Thursday, October 26th. Robert W. Baird boosted their price target on Mercury Systems from $48.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. SunTrust Banks restated a “buy” rating and set a $61.00 price target on shares of Mercury Systems in a research note on Tuesday, January 9th. Finally, BidaskClub lowered Mercury Systems from a “sell” rating to a “strong sell” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.71.
Shares of Mercury Systems (NASDAQ MRCY) traded down $1.27 on Thursday, reaching $43.55. The company had a trading volume of 258,454 shares, compared to its average volume of 449,799. Mercury Systems has a 1 year low of $33.94 and a 1 year high of $55.00. The company has a market capitalization of $2,137.15, a price-to-earnings ratio of 47.34, a price-to-earnings-growth ratio of 3.81 and a beta of 0.33.
In other news, insider Mark Aslett sold 9,600 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $50.11, for a total value of $481,056.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Vincent Vitto sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $52.04, for a total value of $442,340.00. Following the completion of the transaction, the director now directly owns 79,539 shares in the company, valued at $4,139,209.56. 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 ninety days. Company insiders own 3.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MRCY. BlackRock Inc. boosted its holdings in shares of Mercury Systems by 242,823.0% in the 1st quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock worth $259,540,000 after acquiring an additional 6,643,636 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Mercury Systems by 323.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,230,421 shares of the technology company’s stock worth $93,878,000 after acquiring an additional 1,703,774 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Mercury Systems by 920.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,176 shares of the technology company’s stock worth $48,077,000 after acquiring an additional 1,110,474 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Mercury Systems in the 1st quarter worth approximately $35,579,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Mercury Systems by 21.6% in the 1st quarter. Vanguard Group Inc. now owns 3,938,032 shares of the technology company’s stock worth $153,780,000 after acquiring an additional 700,484 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors and hedge funds.
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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.
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