TD Asset Management Inc Invests $631,000 in Mercury Systems Inc $MRCY

Key Points

• TD Asset Management Inc recently invested approximately $631,000 in Mercury Systems Inc, acquiring 11,718 shares during the second quarter.
• Several institutional investors have increased their positions in Mercury Systems, with over 95% of the stock owned by such entities.
• Analysts have mixed ratings on Mercury Systems, with a consensus rating of "Moderate Buy" and price targets ranging from $39.00 to $88.00.

TD Asset Management Inc bought a new position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,718 shares of the technology company's stock, valued at approximately $631,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Mercury Systems by 25.0% during the second quarter. GAMMA Investing LLC now owns 1,322 shares of the technology company's stock worth $71,000 after purchasing an additional 264 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Mercury Systems by 4.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,763 shares of the technology company's stock worth $507,000 after purchasing an additional 449 shares during the period. KLP Kapitalforvaltning AS raised its position in shares of Mercury Systems by 4.7% during the second quarter. KLP Kapitalforvaltning AS now owns 11,100 shares of the technology company's stock worth $598,000 after purchasing an additional 500 shares during the period. US Bancorp DE raised its position in shares of Mercury Systems by 43.0% during the first quarter. US Bancorp DE now owns 2,489 shares of the technology company's stock worth $107,000 after purchasing an additional 749 shares during the period. Finally, Altfest L J & Co. Inc. raised its position in Mercury Systems by 4.6% during the first quarter. Altfest L J & Co. Inc. now owns 17,602 shares of the technology company's stock valued at $758,000 after buying an additional 770 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRCY has been the topic of several recent analyst reports. Canaccord Genuity Group initiated coverage on Mercury Systems in a research report on Thursday, October 2nd. They set a "buy" rating and a $88.00 price target on the stock. The Goldman Sachs Group upped their price target on Mercury Systems from $35.00 to $39.00 and gave the company a "sell" rating in a research report on Wednesday, August 13th. Raymond James Financial raised Mercury Systems from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from $55.00 to $80.00 in a research report on Tuesday, August 12th. Royal Bank Of Canada raised Mercury Systems from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, October 1st. Finally, UBS Group set a $88.00 price target on Mercury Systems in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Mercury Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.89.

Insider Activity at Mercury Systems

In other news, EVP David E. Farnsworth sold 7,572 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $488,091.12. Following the completion of the sale, the executive vice president owned 161,326 shares in the company, valued at approximately $10,399,073.96. This represents a 4.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Ballhaus sold 13,050 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $841,203.00. Following the sale, the chief executive officer owned 374,976 shares of the company's stock, valued at approximately $24,170,952.96. This trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 848,980 shares of company stock worth $55,529,247 in the last 90 days. Insiders own 1.40% of the company's stock.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $77.60 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. Mercury Systems Inc has a fifty-two week low of $32.32 and a fifty-two week high of $85.33. The stock's 50-day moving average is $73.57 and its two-hundred day moving average is $58.49. The firm has a market cap of $4.66 billion, a P/E ratio of -117.57, a PEG ratio of 3.09 and a beta of 0.82.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share for the quarter. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The company had revenue of $256.86 million for the quarter. Analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

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.

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