Mercury Systems (NASDAQ:MRCY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Mercury Systems (NASDAQ:MRCY - Get Free Report) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $48.00 to $56.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 5.70% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. Truist Financial boosted their target price on Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. Royal Bank of Canada lifted their target price on shares of Mercury Systems from $48.00 to $50.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group upped their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a "sell" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mercury Systems currently has a consensus rating of "Hold" and an average target price of $49.57.

Mercury Systems Price Performance

MRCY opened at $52.98 on Monday. The stock has a market capitalization of $3.17 billion, a P/E ratio of -33.96 and a beta of 0.68. The stock has a 50-day moving average price of $48.53 and a 200-day moving average price of $44.77. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41. Mercury Systems has a 12-month low of $26.48 and a 12-month high of $55.80.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $211.36 million during the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The company's revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.26) earnings per share. Equities analysts predict that Mercury Systems will post -0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Steven Ratner sold 3,892 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total value of $185,648.40. Following the transaction, the executive vice president now owns 56,187 shares in the company, valued at $2,680,119.90. This represents a 6.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jana Partners Management, Lp sold 88,152 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the sale, the director now owns 6,861,313 shares of the company's stock, valued at $317,472,952.51. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Mercury Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC raised its position in shares of Mercury Systems by 4.0% in the 4th quarter. Corient Private Wealth LLC now owns 6,858 shares of the technology company's stock valued at $288,000 after purchasing an additional 266 shares during the last quarter. Ironwood Investment Management LLC lifted its position in Mercury Systems by 0.7% during the fourth quarter. Ironwood Investment Management LLC now owns 40,994 shares of the technology company's stock valued at $1,722,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC boosted its stake in shares of Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock worth $46,000 after buying an additional 395 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Mercury Systems by 4.0% in the 1st 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 in the last quarter. Finally, Fifth Third Bancorp boosted its holdings 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 buying an additional 451 shares in the last quarter. 95.99% of the stock is currently owned by hedge funds and other 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.

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