Vertex Pharmaceuticals Incorporated (VRTX) Position Trimmed by Hartford Investment Management Co.

Hartford Investment Management Co. lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 39.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,031 shares of the pharmaceutical company’s stock after selling 19,440 shares during the period. Hartford Investment Management Co.’s holdings in Vertex Pharmaceuticals were worth $5,104,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of VRTX. Massachusetts Financial Services Co. MA bought a new position in Vertex Pharmaceuticals in the 1st quarter worth $247,701,000. Summit Trail Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 11,575.0% in the 1st quarter. Summit Trail Advisors LLC now owns 956,067 shares of the pharmaceutical company’s stock worth $956,000 after buying an additional 947,878 shares during the period. BlackRock Inc. boosted its holdings in Vertex Pharmaceuticals by 2.5% in the 1st quarter. BlackRock Inc. now owns 19,888,045 shares of the pharmaceutical company’s stock worth $3,241,352,000 after buying an additional 478,972 shares during the period. Royal Bank of Canada boosted its holdings in Vertex Pharmaceuticals by 69.3% in the 1st quarter. Royal Bank of Canada now owns 567,351 shares of the pharmaceutical company’s stock worth $92,465,000 after buying an additional 232,183 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Vertex Pharmaceuticals by 139.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 364,768 shares of the pharmaceutical company’s stock worth $61,996,000 after buying an additional 212,481 shares during the period. 93.38% of the stock is owned by institutional investors.

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VRTX has been the subject of several recent analyst reports. Argus set a $172.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, June 12th. They noted that the move was a valuation call. ValuEngine raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Cowen reaffirmed a “buy” rating and issued a $200.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, April 27th. Maxim Group reaffirmed a “buy” rating and issued a $200.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, April 27th. Finally, Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Friday, April 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $189.42.

In other Vertex Pharmaceuticals news, EVP Michael Parini sold 2,330 shares of the business’s stock in a transaction on Thursday, May 3rd. The shares were sold at an average price of $149.50, for a total value of $348,335.00. Following the sale, the executive vice president now owns 41,939 shares in the company, valued at approximately $6,269,880.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Amit Sachdev sold 4,096 shares of the business’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $167.63, for a total transaction of $686,612.48. Following the completion of the sale, the executive vice president now owns 48,603 shares in the company, valued at approximately $8,147,320.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,198 shares of company stock worth $52,264,134. Corporate insiders own 1.80% of the company’s stock.

Shares of VRTX stock opened at $177.40 on Friday. The firm has a market capitalization of $46.16 billion, a price-to-earnings ratio of 221.75, a P/E/G ratio of 2.37 and a beta of 1.42. Vertex Pharmaceuticals Incorporated has a 52 week low of $136.50 and a 52 week high of $183.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.53 and a current ratio of 3.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, April 26th. The pharmaceutical company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.63 by $0.13. The business had revenue of $641.00 million for the quarter, compared to analysts’ expectations of $626.05 million. Vertex Pharmaceuticals had a net margin of 9.36% and a return on equity of 15.28%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. equities analysts expect that Vertex Pharmaceuticals Incorporated will post 1.94 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX).

How to Keep 2nd-Place Candidates Interested in Your Company

Every once in a lucky while, you'll reach the end of the interview process with two candidates who would both make a great addition to your company. While you might have a hard time deciding between them, ultimately something will tip the scales in one candidate's favor -- perhaps one has more experience under their belt, or possesses hard-to-find skills. It can be tough to let that other candidate know that you've chosen someone else for the job -- but the good news is, you don't need to let them go entirely.

It's always beneficial to nurture relationships with second-place candidates, says Gene Brady, Director at SCN �� Search Consulting Network. "'Second-place' candidates have many times been the one to receive the offer, for a wide variety of reasons -- the first-place candidate withdraws [...] or the first-place candidate doesn't pass the drug or background check. Also, the next assignment that comes in may fit the second-place candidate so nicely they become the first-place candidate for the role!

Image source: Getty Images.

But how exactly can you keep a second-place candidate interested if you don't have an opportunity for them at the moment? Here are a few of the top tips.

Let them down gently

An interested candidate never wants to hear that they didn't get the job, but if you message it correctly, you can leave them feeling good about themselves and open to future opportunities. It shouldn't feel artificially cheery or phony, though -- make sure you're authentic in your response.

"If we think the person is a good fit, we make that known," says Marc Prosser, co-founder of FitSmallBusiness.com. "Often, we, or our recruiter, will have a phone conversation with them that goes like this: 'We had lots of great candidates who applied for the position. We think you would be a great addition to our company, however, [we] have chosen to offer the position to another candidate. Would you be open to hearing from us in the future?'"

You may even want to share specific feedback on why they weren't selected for the role, says Paul Freed, co-founder of Herd Freed Hartz.

"Explain the decision to go with another candidate[...] Offer any interview feedback if needed, but also say it was a tough decision on the team and [we] would love to hire both but just don't have the budget right now and that you'd [like] to stay close for future opportunities," Freed says.

If you know a timeline of when that budget might come in, or when a role fitting their experience and skills may open, make sure to share that with them.

Establish ongoing communication

HR experts agree that the best way to keep a strong candidate interested in your company is to proactively engage with them.

"Emails where you check in are great for nurturing candidates. You can also call or text, asking how everything is going -- maybe asking something about what you discussed during interviews (pursuit of a degree, certification, or other topics)," says hiring and onboarding consultant Jen Teague. "Everyone wants to be memorable for the right reasons, and these modes of contact are a great way to do that. You don't have to become a buddy, just a reference or point of contact for the company. That way, you are fresh in the candidate's mind and he or she will be more likely to apply again the future."

Make sure that this outreach isn't just a one-time thing, though, cautions HR consultant and author Joshua M. Evans.

"Follow up with them every few weeks. This is often overlooked because it is cumbersome, but following up with a potential candidate every few weeks can not only keep [them] interested, it can also build their appreciation for your organization," Evans says.

Other creative ideas for staying in touch with a candidate include sending a monthly update, inviting them to a company open house or even sending them a small gift, Freed says. If you have the budget for it, you may even want to "consider adding this person for an advisory role or consultant for a special project."

And of course, keep candidates in the loop regarding new opportunities.

Message, "email or call the candidates periodically when new jobs are available, and encourage them to apply for jobs on a short-list if they meet qualifications. When there's news about an upcoming hiring phase, notify them and recommend applying if they are interested," says Tes Akhtar, recruiting and HR development consultant for Potent Pages.

Be honest on timing

It's understandable to want to keep a candidate on deck, but if you're interacting with them for months on end and have no idea when a relevant position will open, you need to let them know.

"One important caveat is to NOT lead [candidates] on. Do not give them false hope as your backup plan," Evans says. "Remember that if they were a good fit for your organization then they would probably be a good fit for someone else's. Don't hold them back from progressing their careers because you want them waiting in the wings."

For example, "if a position isn't going to be open for three months, we tell the person up front and let them know we will periodically check in with them," Freed says.

That being said, as long as you're open about what the candidate can expect, there's nothing wrong with engaging them as long as they're still interested.

"There are always future opportunities," Freed adds. "We value relationships, and look to maintain the good ones. Many times we've presented people with multiple opportunities through the years, and then bam -- one lines up well for them, they receive an offer, and it was our sustained relationship that kept the door wide open."

So the next time you have to choose between two stellar candidates, don't lament having to let one of them go -- see it as a valuable opportunity to grow your talent pool.

This article originally appeared on Glassdoor.com.

Why ETF "Herd Investors" Will Always Get Burned

Tim Melvin

Just when I suspect one of America's greatest investors might be digging through my mail… I become convinced he's doing it.

Howard Marks of Oaktree Capital lambasted index investing in his latest investor letter. In this, we're 1,000% agreed: Indexing is a silly, dangerous waste of time (unless you want sub-3% returns… minus fees).

An eagle eye for warding off popular con games like indexing is just one of the reasons Marks is worth about $1.9 billion. Clearly, he knows a thing or two about grabbing unreasonably high returns.

He warned his readers about another return-sapping scheme out there on Wall Street.

It's one I've compared to buying a "ticket on the Hindenburg" and thinking you signed up for a walking tour of the Chicago Botanic Garden.

This is worth a second look – because Marks is actually pointing us toward a much, much more profitable way to invest.

It's an approach I've mastered and profited immensely with for years – and so can you…

Join the conversation. Click here to jump to comments…

Tim Melvin

About the Author

Browse Tim's articles | View Tim's research services

Jane Street Group LLC Takes Position in Brookfield Business Partners LP (BBU)

Jane Street Group LLC purchased a new position in Brookfield Business Partners LP (NYSE:BBU) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,583 shares of the business services provider’s stock, valued at approximately $309,000.

Several other institutional investors have also bought and sold shares of the company. OMERS ADMINISTRATION Corp bought a new position in shares of Brookfield Business Partners in the 1st quarter worth about $240,324,000. CIBC Asset Management Inc lifted its position in shares of Brookfield Business Partners by 2.2% in the 1st quarter. CIBC Asset Management Inc now owns 2,823,297 shares of the business services provider’s stock worth $101,614,000 after buying an additional 61,825 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Business Partners by 12.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,373,001 shares of the business services provider’s stock worth $49,442,000 after buying an additional 150,157 shares during the last quarter. Sentry Investments Corp. lifted its position in shares of Brookfield Business Partners by 2.8% in the 1st quarter. Sentry Investments Corp. now owns 962,274 shares of the business services provider’s stock worth $34,651,000 after buying an additional 26,000 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Brookfield Business Partners by 52.3% in the 1st quarter. Toronto Dominion Bank now owns 346,706 shares of the business services provider’s stock worth $12,328,000 after buying an additional 119,112 shares during the last quarter. Institutional investors own 76.45% of the company’s stock.

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A number of research firms have recently issued reports on BBU. ValuEngine upgraded shares of Brookfield Business Partners from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Citigroup raised their price target on shares of Brookfield Business Partners to $46.00 and gave the stock a “buy” rating in a research report on Thursday, May 24th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $39.00 price target on shares of Brookfield Business Partners in a research report on Monday, April 23rd. Six equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $42.40.

Shares of NYSE:BBU opened at $38.72 on Thursday. Brookfield Business Partners LP has a fifty-two week low of $27.01 and a fifty-two week high of $41.42. The company has a current ratio of 1.24, a quick ratio of 1.04 and a debt-to-equity ratio of 0.74.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Monday, May 7th. The business services provider reported ($0.53) earnings per share for the quarter. The firm had revenue of $8.19 billion during the quarter. Brookfield Business Partners had a negative net margin of 0.08% and a positive return on equity of 5.27%.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Thursday, May 31st were given a $0.063 dividend. The ex-dividend date was Wednesday, May 30th. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a yield of 0.65%.

Brookfield Business Partners Company Profile

Akcea Therapeutics Jumps on European Marketing Approval

Akcea Therapeutics Inc. (NASDAQ: AKCA) shares saw a nice bump on Wednesday after the company announced in conjunction with Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) that they had received a marketing authorization approval from the European Commission (EC).

Specifically, this approval is for the treatment, Tegsedi, of stage 1 or stage 2 polyneuropathy in adult patients with hereditary transthyretin amyloidosis (hATTR). This follows the positive opinion recommending approval provided by the Committee for Medicinal Products for Human Use (CHMP) of European Medicines Agency (EMA).

The EC’s approval of Tegsedi was based on results from the Phase 3 NEURO-TTR study in patients with hATTR with symptoms of polyneuropathy. Results from that study demonstrated that patients treated with Tegsedi experienced significant benefit compared to patients treated with placebo.

Paula Soteropoulos, CEO of Akcea, commented:

With the EC`s decision, TEGSEDI is now the world`s first and only RNA-targeted therapeutic approved for patients with hATTR amyloidosis. With subcutaneous delivery, TEGSEDI puts treatment in the patients` hands while bringing the significant benefits shown in the NEURO-TTR study in both measures of neuropathy and quality of life for people living with this serious and fatal disease. This is an important day for the hATTR amyloidosis community as we believe TEGSEDI enables people and their families impacted by this disease to move forward with their lives. Today is a milestone for Akcea with our first drug approval. It is an achievement we share with the courageous hATTR patient community in Europe and around the globe. We are ready to launch TEGSEDI along with our patient and physician support services across Europe.

Shares of Akcea were last seen up about 3% at $24.96, with a consensus analyst price target of $32.00 and a 52-week trading range of $1.05 to $33.99.

Ionis shares were trading at $45.00, with a consensus price target of $58.50 and a 52-week range of $39.07 to $65.51.

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RBC Raises 2018 and 2019 Oil Price Estimates: 6 Top Picks to Buy Now

Aerojet Rocketdyne Holdings Inc (AJRD) Expected to Post Earnings of $0.24 Per Share

Analysts forecast that Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) will announce earnings per share (EPS) of $0.24 for the current quarter, according to Zacks. Two analysts have issued estimates for Aerojet Rocketdyne’s earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.27. Aerojet Rocketdyne reported earnings of $0.32 per share during the same quarter last year, which would indicate a negative year over year growth rate of 25%. The business is expected to announce its next quarterly earnings results on Thursday, August 2nd.

According to Zacks, analysts expect that Aerojet Rocketdyne will report full year earnings of $0.97 per share for the current financial year, with EPS estimates ranging from $0.89 to $1.05. For the next financial year, analysts expect that the company will report earnings of $1.15 per share, with EPS estimates ranging from $1.09 to $1.20. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Aerojet Rocketdyne.

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Aerojet Rocketdyne (NYSE:AJRD) last issued its quarterly earnings results on Tuesday, May 1st. The aerospace company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $492.00 million during the quarter, compared to analyst estimates of $417.68 million. Aerojet Rocketdyne had a negative net margin of 0.06% and a positive return on equity of 46.38%. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS.

AJRD has been the subject of several recent research reports. ValuEngine raised Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $37.33.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in Aerojet Rocketdyne by 1.5% during the first quarter. Rhumbline Advisers now owns 139,811 shares of the aerospace company’s stock worth $3,911,000 after purchasing an additional 2,070 shares during the period. Swiss National Bank grew its stake in Aerojet Rocketdyne by 2.3% during the first quarter. Swiss National Bank now owns 111,200 shares of the aerospace company’s stock worth $3,110,000 after purchasing an additional 2,500 shares during the period. Prudential Financial Inc. grew its stake in Aerojet Rocketdyne by 2.1% during the first quarter. Prudential Financial Inc. now owns 126,057 shares of the aerospace company’s stock worth $3,526,000 after purchasing an additional 2,650 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in Aerojet Rocketdyne by 42.5% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,995 shares of the aerospace company’s stock worth $281,000 after purchasing an additional 2,683 shares during the period. Finally, OppenheimerFunds Inc. grew its stake in Aerojet Rocketdyne by 7.5% during the first quarter. OppenheimerFunds Inc. now owns 43,006 shares of the aerospace company’s stock worth $1,203,000 after purchasing an additional 3,001 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Shares of AJRD stock traded up $0.05 on Wednesday, hitting $29.75. The company had a trading volume of 13,487 shares, compared to its average volume of 574,644. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 40.19, a PEG ratio of 5.57 and a beta of 1.13. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 3.47. Aerojet Rocketdyne has a twelve month low of $21.35 and a twelve month high of $36.25.

About Aerojet Rocketdyne

Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates through two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.

Get a free copy of the Zacks research report on Aerojet Rocketdyne (AJRD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Cabbage Trading 1.3% Higher This Week (CAB)

Cabbage (CURRENCY:CAB) traded 5.2% lower against the dollar during the 24-hour period ending at 11:00 AM Eastern on July 7th. One Cabbage coin can now be purchased for approximately $0.0025 or 0.00000038 BTC on exchanges. Cabbage has a total market cap of $26,118.00 and $25.00 worth of Cabbage was traded on exchanges in the last day. Over the last seven days, Cabbage has traded 1.3% higher against the dollar.

Here’s how other cryptocurrencies have performed over the last day:

Get Cabbage alerts: OmiseGO (OMG) traded down 3.3% against the dollar and now trades at $7.71 or 0.00117807 BTC. Wanchain (WAN) traded down 3.6% against the dollar and now trades at $2.32 or 0.00035507 BTC. Ardor (ARDR) traded 2.3% lower against the dollar and now trades at $0.16 or 0.00002467 BTC. Mithril (MITH) traded 12.5% lower against the dollar and now trades at $0.46 or 0.00007087 BTC. Raiden Network Token (RDN) traded up 1.1% against the dollar and now trades at $0.80 or 0.00012200 BTC. Quantum Resistant Ledger (QRL) traded 2.9% higher against the dollar and now trades at $0.47 or 0.00007188 BTC. DECENT (DCT) traded 1.8% lower against the dollar and now trades at $0.37 or 0.00005617 BTC. ION (ION) traded up 0.3% against the dollar and now trades at $0.87 or 0.00013304 BTC. Fluz Fluz (FLUZ) traded 10.3% higher against the dollar and now trades at $0.0213 or 0.00000325 BTC. FidentiaX (FDX) traded up 7.6% against the dollar and now trades at $0.0250 or 0.00000382 BTC.

Cabbage Coin Profile

CAB uses the hashing algorithm. Cabbage’s total supply is 10,499,996 coins. Cabbage’s official website is www.cabbage.tech. Cabbage’s official Twitter account is @cabbagetech.

Cabbage Coin Trading

Cabbage can be purchased on these cryptocurrency exchanges: YoBit. It is usually not presently possible to buy alternative cryptocurrencies such as Cabbage directly using US dollars. Investors seeking to acquire Cabbage should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cabbage using one of the exchanges listed above.

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First Horizon National (FHN) Scheduled to Post Earnings on Thursday

First Horizon National (NYSE:FHN) will be posting its quarterly earnings results before the market opens on Thursday, July 12th.

First Horizon National (NYSE:FHN) last posted its earnings results on Friday, April 13th. The financial services provider reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. First Horizon National had a return on equity of 9.37% and a net margin of 12.30%. The business had revenue of $437.20 million for the quarter, compared to analysts’ expectations of $438.60 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business’s revenue was up 42.6% compared to the same quarter last year. On average, analysts expect First Horizon National to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

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FHN opened at $17.81 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.92. First Horizon National has a one year low of $15.84 and a one year high of $20.86. The stock has a market cap of $5.86 billion, a PE ratio of 16.05, a PEG ratio of 1.73 and a beta of 0.98.

The company also recently announced a quarterly dividend, which was paid on Monday, July 2nd. Stockholders of record on Friday, June 8th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, June 7th. First Horizon National’s dividend payout ratio (DPR) is currently 43.24%.

A number of research firms have recently commented on FHN. ValuEngine cut First Horizon National from a “hold” rating to a “sell” rating in a research report on Monday. Hovde Group upgraded First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Friday, June 29th. FIG Partners upgraded First Horizon National from a “market perform” rating to an “outperform” rating in a research report on Monday, April 16th. Piper Jaffray Companies began coverage on First Horizon National in a research report on Monday, April 9th. They set an “overweight” rating and a $22.00 target price on the stock. Finally, Wells Fargo & Co upgraded First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Thursday, April 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. First Horizon National presently has an average rating of “Buy” and an average price target of $22.17.

About First Horizon National

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.

Zacks: Brokerages Expect Mercury Systems Inc (MRCY) Will Announce Quarterly Sales of $149.60 Million

Equities research analysts expect Mercury Systems Inc (NASDAQ:MRCY) to announce $149.60 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Mercury Systems’ earnings, with estimates ranging from $148.50 million to $152.03 million. Mercury Systems reported sales of $115.61 million during the same quarter last year, which would suggest a positive year over year growth rate of 29.4%. The company is expected to issue its next earnings report on Tuesday, August 7th.

According to Zacks, analysts expect that Mercury Systems will report full-year sales of $489.93 million for the current financial year, with estimates ranging from $488.80 million to $492.34 million. For the next year, analysts expect that the company will post sales of $572.06 million per share, with estimates ranging from $566.89 million to $585.21 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Mercury Systems.

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Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, April 24th. The technology company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The firm had revenue of $116.30 million during the quarter, compared to analysts’ expectations of $128.45 million. Mercury Systems had a net margin of 8.68% and a return on equity of 6.83%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share.

MRCY has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Thursday, April 26th. Jefferies Financial Group restated a “hold” rating and set a $44.00 target price on shares of Mercury Systems in a report on Thursday, April 26th. ValuEngine lowered shares of Mercury Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 17th. Finally, Bank of America lowered shares of Mercury Systems from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $50.00 to $35.00 in a research note on Wednesday, April 25th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $51.33.

Shares of NASDAQ:MRCY opened at $38.54 on Thursday. The company has a market cap of $1.86 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 2.69 and a beta of 0.44. Mercury Systems has a 1-year low of $30.11 and a 1-year high of $55.00. The company has a quick ratio of 2.47, a current ratio of 3.95 and a debt-to-equity ratio of 0.26.

In other news, CFO Michael Ruppert acquired 3,100 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The stock was purchased at an average price of $32.66 per share, with a total value of $101,246.00. Following the purchase, the chief financial officer now owns 120,346 shares of the company’s stock, valued at approximately $3,930,500.36. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

Several large investors have recently modified their holdings of MRCY. Advisor Group Inc. boosted its stake in shares of Mercury Systems by 70.1% during the 4th quarter. Advisor Group Inc. now owns 4,347 shares of the technology company’s stock valued at $222,000 after buying an additional 1,791 shares during the period. Miles Capital Inc. acquired a new stake in shares of Mercury Systems during the 1st quarter valued at $237,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Mercury Systems during the 1st quarter valued at $264,000. First Mercantile Trust Co. boosted its stake in shares of Mercury Systems by 35.5% during the 1st quarter. First Mercantile Trust Co. now owns 5,721 shares of the technology company’s stock valued at $276,000 after buying an additional 1,498 shares during the period. Finally, Hanseatic Management Services Inc. boosted its stake in shares of Mercury Systems by 14,884.2% during the 4th quarter. Hanseatic Management Services Inc. now owns 5,694 shares of the technology company’s stock valued at $292,000 after buying an additional 5,656 shares during the period. 96.40% of the stock is owned by institutional investors.

About Mercury Systems

Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. The company's products and solutions are deployed in approximately 300 programs with 25 defense prime contractors. Its principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, and Paveway.

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