Key Points
- EVP David Farnsworth sold 3,625 shares of Mercury Systems on April 16 at an average price of $84.87 for total proceeds of $307,653.75, a 2.25% reduction in his holding; the sale was disclosed in an SEC filing and was made to cover tax withholding from vested equity awards.
- Mercury Systems recently beat quarterly estimates (reported $0.16 EPS vs. $0.07 expected and $232.9M revenue vs. $209.96M), with revenue up 4.4% year‑over‑year, while analysts remain mixed—MarketBeat shows a consensus "Hold" and a $86.33 target versus a $5.04B market cap.
- Institutional investors own 95.99% of the stock, and after the sale Farnsworth still directly holds 157,701 shares valued at about $13.38M, indicating substantial insider and institutional ownership.
Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) EVP David Farnsworth sold 3,625 shares of the business's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $84.87, for a total transaction of $307,653.75. Following the transaction, the executive vice president directly owned 157,701 shares in the company, valued at approximately $13,384,083.87. The trade was a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Mercury Systems Price Performance
Mercury Systems stock opened at $84.05 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $82.06 and a 200 day moving average price of $80.48. Mercury Systems Inc has a 12-month low of $44.01 and a 12-month high of $103.84. The stock has a market cap of $5.04 billion, a P/E ratio of -158.58, a PEG ratio of 8.23 and a beta of 0.84.
Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.09. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The company had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. During the same period in the previous year, the business posted $0.07 EPS. Mercury Systems's revenue was up 4.4% on a year-over-year basis. Sell-side analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current year.
Institutional Investors Weigh In On Mercury Systems
A number of institutional investors have recently modified their holdings of the company. Emerald Advisers LLC boosted its holdings in Mercury Systems by 16.7% during the 3rd quarter. Emerald Advisers LLC now owns 533,092 shares of the technology company's stock valued at $41,261,000 after acquiring an additional 76,379 shares during the period. Mutual of America Capital Management LLC increased its stake in Mercury Systems by 42.8% during the third quarter. Mutual of America Capital Management LLC now owns 225,374 shares of the technology company's stock worth $17,444,000 after purchasing an additional 67,518 shares during the period. Nordea Investment Management AB acquired a new stake in shares of Mercury Systems during the fourth quarter worth about $4,954,000. Cresset Asset Management LLC acquired a new stake in shares of Mercury Systems during the third quarter worth about $1,862,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Mercury Systems by 75.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 27,796 shares of the technology company's stock valued at $2,151,000 after purchasing an additional 11,989 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on MRCY. The Goldman Sachs Group increased their price objective on Mercury Systems from $49.00 to $55.00 and gave the stock a "sell" rating in a research report on Tuesday, January 20th. Canaccord Genuity Group set a $102.00 target price on Mercury Systems in a research note on Wednesday, February 4th. Truist Financial upped their price target on Mercury Systems from $102.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. Jefferies Financial Group cut their price objective on Mercury Systems from $85.00 to $80.00 and set a "hold" rating for the company in a research report on Tuesday, April 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mercury Systems in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Mercury Systems presently has an average rating of "Hold" and a consensus target price of $86.33.
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About Mercury Systems
(
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Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company's products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury's offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.
Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.
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