Mercury Systems (NASDAQ:MRCY) CEO William Ballhaus Sells 49,090 Shares

Mercury Systems Inc (NASDAQ:MRCYGet Free Report) CEO William Ballhaus sold 49,090 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $89.10, for a total transaction of $4,373,919.00. Following the completion of the transaction, the chief executive officer directly owned 361,822 shares in the company, valued at approximately $32,238,340.20. The trade was a 11.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Mercury Systems Price Performance

Mercury Systems stock opened at $90.47 on Friday. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of -180.94 and a beta of 0.95. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $105.53 and a 200 day simple moving average of $95.00. Mercury Systems Inc has a 52 week low of $65.04 and a 52 week high of $128.45.

Mercury Systems (NASDAQ:MRCYGet Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The business had revenue of $289.78 million for the quarter, compared to analysts’ expectations of $266.09 million. During the same period in the previous year, the firm posted $0.47 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts forecast that Mercury Systems Inc will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of Mercury Systems

Several large investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Mercury Systems during the 2nd quarter valued at approximately $1,146,342,000. California State Teachers Retirement System lifted its holdings in Mercury Systems by 11,902.8% in the 2nd 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 during the period. State Street Corp grew its position in shares of Mercury Systems by 12.1% in the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after buying an additional 368,242 shares during the last quarter. Invesco Ltd. grew its position in shares of Mercury Systems by 25.1% in the 4th quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock worth $139,503,000 after buying an additional 383,299 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Mercury Systems by 1.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after buying an additional 21,182 shares during the period. 95.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MRCY. The Goldman Sachs Group upped their target price on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Canaccord Genuity Group raised their target price on shares of Mercury Systems from $106.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Truist Financial lifted their target price on shares of Mercury Systems from $109.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Finally, Robert W. Baird upped their price target on shares of Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $110.10.

Read Our Latest Analysis on MRCY

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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