Mercury Systems Inc $MRCY Position Increased by Swedbank AB

Key Points

• Swedbank AB sharply boosted its Mercury Systems stake by 722.1% in the fourth quarter, ending with 38,349 shares valued at about $2.8 million.
• Mercury Systems reported stronger-than-expected quarterly results, posting EPS of $0.27 versus the $0.06 estimate and revenue of $235.76 million, up 11.5% year over year.
• Analyst sentiment remains mixed but constructive, with a consensus rating of “Moderate Buy” and an average target price of $89.89, while several price targets were recently adjusted higher.

Swedbank AB increased its stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 722.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,349 shares of the technology company's stock after purchasing an additional 33,684 shares during the period. Swedbank AB owned 0.06% of Mercury Systems worth $2,800,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MRCY. Invesco Ltd. lifted its holdings in shares of Mercury Systems by 161.7% in the 3rd quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company's stock worth $118,224,000 after purchasing an additional 943,736 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Mercury Systems by 96.3% in the 3rd quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company's stock worth $118,640,000 after purchasing an additional 751,813 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Mercury Systems by 51.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company's stock worth $36,861,000 after purchasing an additional 290,989 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Mercury Systems by 118,133.6% in the 3rd quarter. Bessemer Group Inc. now owns 274,302 shares of the technology company's stock worth $21,232,000 after purchasing an additional 274,070 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Mercury Systems by 8.7% in the 2nd quarter. State Street Corp now owns 3,246,573 shares of the technology company's stock worth $174,860,000 after purchasing an additional 259,388 shares during the last quarter. Institutional investors own 95.99% of the company's stock.

Mercury Systems Stock Down 2.2%

Shares of Mercury Systems stock opened at $97.11 on Thursday. The business's fifty day moving average price is $83.52 and its two-hundred day moving average price is $82.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The company has a market capitalization of $5.83 billion, a P/E ratio of -404.63 and a beta of 0.83. Mercury Systems Inc has a 1-year low of $47.53 and a 1-year high of $103.84.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. During the same quarter in the previous year, the business earned $0.06 EPS. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. As a group, research analysts forecast that Mercury Systems Inc will post 0.18 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on MRCY shares. The Goldman Sachs Group raised their price target on Mercury Systems from $60.00 to $68.00 and gave the stock a "sell" rating in a report on Monday, May 11th. Canaccord Genuity Group lifted their target price on Mercury Systems from $102.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $105.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. Jefferies Financial Group reaffirmed a "hold" rating and set a $95.00 target price on shares of Mercury Systems in a research note on Sunday, May 10th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Two equities 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 given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.89.

Insider Activity at Mercury Systems

In other news, EVP David E. Farnsworth sold 3,625 shares of Mercury Systems stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $84.87, for a total transaction of $307,653.75. Following the transaction, the executive vice president directly owned 157,701 shares in the company, valued at approximately $13,384,083.87. This trade represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jana Partners Management, Lp sold 182,510 shares of Mercury Systems stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $94.05, for a total value of $17,165,065.50. Following the transaction, the director owned 4,384,165 shares in the company, valued at approximately $412,330,718.25. This trade represents a 4.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 473,932 shares of company stock worth $43,453,119 in the last quarter. Company insiders own 1.40% of the company's stock.

About Mercury Systems

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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