Mercury Systems (NASDAQ:MRCY) Reaches New 52-Week High – Time to Buy?

Mercury Systems, Inc. (NASDAQ:MRCY) hit a new 52-week high on Friday . The company traded as high as $53.19 and last traded at $53.14, with a volume of 632977 shares. The stock had previously closed at $52.01.

Wall Street Analyst Weigh In

MRCY has been the subject of a number of analyst reports. Truist Financial raised their price target on Mercury Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Royal Bank of Canada lifted their price objective on Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group boosted their price target on Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.29.

Mercury Systems Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. The company has a market capitalization of $3.18 billion, a PE ratio of -34.06 and a beta of 0.68. The company’s 50-day simple moving average is $47.62 and its 200-day simple moving average is $44.33.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $211.36 million during the quarter, compared to analysts’ expectations of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.26) earnings per share. As a group, sell-side analysts anticipate that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

Insider Activity

In other news, Director Jana Partners Management, Lp sold 88,152 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the transaction, the director now owns 6,861,313 shares in the company, valued at approximately $317,472,952.51. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven Ratner sold 3,892 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the completion of the transaction, the executive vice president now owns 56,187 shares of the company’s stock, valued at $2,680,119.90. This represents a 6.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

A number of hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $33,000. GAMMA Investing LLC lifted its holdings in shares of Mercury Systems by 59.6% during the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock valued at $46,000 after acquiring an additional 395 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Mercury Systems by 53.8% during the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after acquiring an additional 451 shares during the period. Sterling Capital Management LLC increased its stake in shares of Mercury Systems by 762.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after buying an additional 1,449 shares in the last quarter. Finally, Nkcfo LLC acquired a new stake in shares of Mercury Systems in the first quarter valued at $72,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.