Key Points
- Executive insider selling: Mercury Systems EVP Steven Ratner sold 4,000 shares at an average of $84.51, generating $338,040 and reducing his holdings by 17.19% to 19,275 shares. He also made several sales in August.
- Mixed financial performance: Mercury Systems reported quarterly revenue of $289.78 million, above estimates and up 6.1% year over year, but adjusted EPS of $0.37 slightly missed expectations and the company posted a negative net margin.
- Analyst consensus remains cautious: Recent rating changes included downgrades to “Hold,” while some firms raised price targets. Overall, analysts give the stock an average “Hold” rating with a consensus target price of $110.10.
Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) EVP Steven Ratner sold 4,000 shares of the company's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $84.51, for a total transaction of $338,040.00. Following the transaction, the executive vice president owned 19,275 shares in the company, valued at $1,628,930.25. The trade was a 17.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Steven Ratner also recently made the following trade(s):
- On Friday, August 21st, Steven Ratner sold 356 shares of Mercury Systems stock. The shares were sold at an average price of $91.36, for a total transaction of $32,524.16.
- On Thursday, August 20th, Steven Ratner sold 1,026 shares of Mercury Systems stock. The stock was sold at an average price of $97.67, for a total value of $100,209.42.
- On Wednesday, August 19th, Steven Ratner sold 2,187 shares of Mercury Systems stock. The stock was sold at an average price of $100.31, for a total value of $219,377.97.
- On Tuesday, August 18th, Steven Ratner sold 1,971 shares of Mercury Systems stock. The stock was sold at an average price of $111.36, for a total value of $219,490.56.
- On Monday, August 17th, Steven Ratner sold 1,084 shares of Mercury Systems stock. The shares were sold at an average price of $109.95, for a total value of $119,185.80.
Mercury Systems Stock Performance
Shares of MRCY stock opened at $80.76 on Thursday. The stock has a fifty day moving average price of $100.39 and a 200 day moving average price of $95.00. The stock has a market cap of $4.86 billion, a PE ratio of -161.52 and a beta of 0.98. Mercury Systems Inc has a 1 year low of $65.04 and a 1 year high of $128.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96.
Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The firm had revenue of $289.78 million for the quarter, compared to analysts' expectations of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Sell-side analysts forecast that Mercury Systems Inc will post 0.89 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently commented on MRCY. Deutsche Bank Aktiengesellschaft cut shares of Mercury Systems to a "hold" rating in a research note on Wednesday, August 12th. Zacks Research downgraded shares of Mercury Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Jefferies Financial Group reiterated a "hold" rating and issued a $115.00 price target on shares of Mercury Systems in a research report on Friday, July 10th. Robert W. Baird raised their price objective on shares of Mercury Systems from $120.00 to $130.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 19th. Finally, Piper Sandler reissued an "overweight" rating and set a $131.00 price objective (up from $126.00) on shares of Mercury Systems in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Mercury Systems has an average rating of "Hold" and a consensus target price of $110.10.
Read Our Latest Analysis on MRCY
Institutional Trading of Mercury Systems
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new position in Mercury Systems in the 2nd quarter valued at about $87,000. IFP Advisors Inc boosted its stake in shares of Mercury Systems by 250.8% during the 2nd quarter. IFP Advisors Inc now owns 463 shares of the technology company's stock worth $57,000 after purchasing an additional 331 shares during the last quarter. Nykredit A S acquired a new stake in shares of Mercury Systems during the 2nd quarter worth about $265,000. Corient Private Wealth LP grew its holdings in shares of Mercury Systems by 92.4% during the second quarter. Corient Private Wealth LP now owns 11,338 shares of the technology company's stock worth $1,387,000 after buying an additional 5,446 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Mercury Systems by 11,902.8% during the second quarter. California State Teachers Retirement System now owns 7,630,211 shares of the technology company's stock worth $933,404,000 after buying an additional 7,566,641 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.
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.
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