Key Points
- Mercury Systems director Orlando Carvalho sold 7,000 shares on May 12 at an average price of $89.36, totaling about $625,520. After the sale, he still held 52,448 shares, a reduction of 11.77% in his ownership.
- The stock was modestly higher, opening at $92.50 and trading up about 0.2% on Thursday. Mercury Systems has also been trading near the upper end of its 52-week range, with a high of $103.84 and a low of $44.01.
- Recent earnings beat expectations, with the company reporting $0.27 EPS versus the $0.06 consensus estimate and revenue of $235.76 million, up 11.5% year over year. Analysts currently have a mixed view on the stock, with an average rating of “Moderate Buy” and an average target price of $89.89.
Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) Director Orlando Carvalho sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total value of $625,520.00. Following the transaction, the director directly owned 52,448 shares of the company's stock, valued at $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Mercury Systems Stock Up 0.2%
NASDAQ:MRCY opened at $92.50 on Thursday. The firm has a market capitalization of $5.55 billion, a PE ratio of -385.42, a price-to-earnings-growth ratio of 8.94 and a beta of 0.83. The stock has a 50 day moving average of $81.42 and a 200-day moving average of $81.05. Mercury Systems Inc has a 52 week low of $44.01 and a 52 week high of $103.84. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40.
Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. The company had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business's revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Analysts predict that Mercury Systems Inc will post 0.18 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on MRCY. Royal Bank Of Canada reissued an "outperform" rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Mercury Systems in a report on Tuesday, April 21st. Canaccord Genuity Group increased their price objective on Mercury Systems from $102.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. The Goldman Sachs Group increased their price objective on Mercury Systems from $60.00 to $68.00 and gave the stock a "sell" rating in a report on Monday. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $95.00 price objective on shares of Mercury Systems in a report on Sunday. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.89.
Check Out Our Latest Report on Mercury Systems
Hedge Funds Weigh In On Mercury Systems
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Emerald Advisers LLC boosted its position in shares of Mercury Systems by 16.7% in the third quarter. Emerald Advisers LLC now owns 533,092 shares of the technology company's stock worth $41,261,000 after buying an additional 76,379 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Mercury Systems by 42.8% in 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 buying an additional 67,518 shares during the period. Nordea Investment Management AB acquired a new stake in shares of Mercury Systems in the fourth quarter worth $4,954,000. Cresset Asset Management LLC acquired a new stake in shares of Mercury Systems in the third quarter worth $1,862,000. Finally, Public Sector Pension Investment Board boosted its position in shares of Mercury Systems by 18.7% in the third quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company's stock worth $15,917,000 after buying an additional 32,443 shares during the period. 95.99% of the stock is owned by institutional investors.
About Mercury Systems
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
