Mercury Systems (NASDAQ:MRCY) Reaches New 12-Month High – Time to Buy?

Shares of Mercury Systems Inc (NASDAQ:MRCY) hit a new 52-week high on Thursday . The stock traded as high as $104.95 and last traded at $104.33, with a volume of 278801 shares trading hands. The stock had previously closed at $97.11.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MRCY shares. The Goldman Sachs Group lifted their price objective on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Jefferies Financial Group reissued a “hold” rating and set a $95.00 target price on shares of Mercury Systems in a research report on Sunday, May 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group increased their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.89.

Mercury Systems Price Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. The business has a 50 day moving average price of $84.71 and a 200-day moving average price of $82.78. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of -465.42 and a beta of 0.83.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. Research analysts predict that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the sale, the director directly owned 52,448 shares in the company, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction on Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the sale, the executive vice president directly owned 32,238 shares of the company’s stock, valued at approximately $2,980,725.48. This trade represents a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 473,932 shares of company stock worth $43,453,119 over the last ninety days. 1.40% of the stock is owned by company insiders.

Institutional Trading of Mercury Systems

Large investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC increased its position in Mercury Systems by 46.9% in the 1st quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company’s stock valued at $68,158,000 after buying an additional 298,298 shares in the last quarter. Cim Investment Management Inc. boosted its holdings in Mercury Systems by 17.2% in the first quarter. Cim Investment Management Inc. now owns 8,927 shares of the technology company’s stock worth $651,000 after acquiring an additional 1,307 shares in the last quarter. Bank of America Corp DE grew its stake in Mercury Systems by 19.5% in the first quarter. Bank of America Corp DE now owns 294,918 shares of the technology company’s stock valued at $21,502,000 after acquiring an additional 48,181 shares during the period. Edgestream Partners L.P. grew its stake in Mercury Systems by 87.0% in the first quarter. Edgestream Partners L.P. now owns 88,208 shares of the technology company’s stock valued at $6,431,000 after acquiring an additional 41,038 shares during the period. Finally, Amundi bought a new stake in shares of Mercury Systems during the first quarter valued at approximately $586,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

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.