Mercury Systems (NASDAQ:MRCY) Issues Earnings Results

Mercury Systems (NASDAQ:MRCY) released its earnings results on Tuesday. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.18, Briefing.com reports. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The company had revenue of $225.21 million for the quarter, compared to analysts’ expectations of $207.28 million. During the same quarter last year, the business earned $0.04 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year.

Mercury Systems Trading Up 3.2%

MRCY traded up $2.41 during trading on Wednesday, reaching $78.12. The company had a trading volume of 488,250 shares, compared to its average volume of 622,044. Mercury Systems has a 52 week low of $37.28 and a 52 week high of $85.33. The stock has a market cap of $4.69 billion, a P/E ratio of -118.15, a PEG ratio of 3.17 and a beta of 0.82. The business has a 50 day simple moving average of $75.38 and a 200-day simple moving average of $60.54. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40.

Insider Buying and Selling at Mercury Systems

In other news, Director Jana Partners Management, Lp sold 797,000 shares of Mercury Systems stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the completion of the sale, the director directly owned 5,964,313 shares in the company, valued at approximately $390,185,356.46. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Ballhaus sold 13,050 shares of Mercury Systems stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $841,203.00. Following the sale, the chief executive officer owned 374,976 shares of the company’s stock, valued at approximately $24,170,952.96. This trade represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 848,980 shares of company stock valued at $55,529,247. 1.40% of the stock is owned by company insiders.

Institutional Trading of Mercury Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. raised its holdings in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after acquiring an additional 208 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Mercury Systems by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 173,201 shares of the technology company’s stock valued at $9,329,000 after acquiring an additional 12,374 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of Mercury Systems in the second quarter valued at about $212,000. Tower Research Capital LLC TRC raised its holdings in shares of Mercury Systems by 516.7% in the second quarter. Tower Research Capital LLC TRC now owns 6,494 shares of the technology company’s stock valued at $350,000 after acquiring an additional 5,441 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of Mercury Systems by 16.1% in the second quarter. Corient Private Wealth LLC now owns 7,345 shares of the technology company’s stock valued at $396,000 after acquiring an additional 1,020 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MRCY has been the subject of a number of research analyst reports. Robert W. Baird increased their price objective on shares of Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. UBS Group set a $88.00 target price on shares of Mercury Systems in a report on Thursday, October 2nd. Canaccord Genuity Group began coverage on shares of Mercury Systems in a report on Thursday, October 2nd. They issued a “buy” rating and a $88.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Mercury Systems from $56.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday, August 12th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 target price on shares of Mercury Systems in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.67.

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.