Shares of Mercury Systems Inc (NASDAQ:MRCY – Get Free Report) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $89.8889.
Several research firms have issued reports on MRCY. Royal Bank Of Canada restated an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Canaccord Genuity Group upped their price objective on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. The Goldman Sachs Group upped their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday. Finally, Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st.
Read Our Latest Report on Mercury Systems
Mercury Systems Stock Performance
Mercury Systems (NASDAQ:MRCY – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.21. The firm had revenue of $235.76 million for 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 for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 earnings per share. As a group, sell-side analysts expect that Mercury Systems will post 0.18 earnings per share for the current fiscal year.
Insider Transactions at Mercury Systems
In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $92.46, for a total value of $184,920.00. Following the sale, the executive vice president owned 32,238 shares in the company, valued at $2,980,725.48. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David E. Farnsworth sold 3,625 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $84.87, for a total value of $307,653.75. Following the transaction, the executive vice president owned 157,701 shares in the company, valued at approximately $13,384,083.87. This trade represents a 2.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 472,383 shares of company stock valued at $43,200,024. Company insiders own 1.40% of the company’s stock.
Hedge Funds Weigh In On Mercury Systems
Large investors have recently made changes to their positions in the company. Emerald Advisers LLC increased its stake in shares of Mercury Systems by 16.7% during the third quarter. Emerald Advisers LLC now owns 533,092 shares of the technology company’s stock worth $41,261,000 after purchasing an additional 76,379 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of 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 bought a new position in shares of Mercury Systems during the fourth quarter worth approximately $4,954,000. Cresset Asset Management LLC bought a new position in shares of Mercury Systems during the third quarter worth approximately $1,862,000. Finally, Public Sector Pension Investment Board increased its stake in shares of Mercury Systems by 18.7% during the third quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company’s stock worth $15,917,000 after purchasing an additional 32,443 shares during the period. Institutional investors own 95.99% of the company’s stock.
Mercury Systems Company Profile
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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