Mercury Systems Inc (NASDAQ:MRCY) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Mercury Systems Inc has a consensus rating of "Moderate Buy" from nine analysts, with price targets ranging from $35.00 to $80.00.
• Recent sales of shares by insiders included EVP Steven Ratner selling 7,000 shares for approximately $446,320, indicating a 17.16% reduction in his position.
• The company reported earnings of $0.47 per share for the last quarter, surpassing expectations and showing a 9.9% revenue increase from the previous year.

Shares of Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $60.7143.

Several analysts recently issued reports on MRCY shares. JPMorgan Chase & Co. raised their price target on Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, August 12th. Truist Financial raised their price target on Mercury Systems from $60.00 to $71.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Wall Street Zen raised Mercury Systems from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. The Goldman Sachs Group raised their price target on Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a report on Wednesday, August 13th. Finally, Raymond James Financial raised Mercury Systems from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $55.00 to $80.00 in a report on Tuesday, August 12th.

Insider Transactions at Mercury Systems

In related news, EVP Steven Ratner sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $63.76, for a total value of $446,320.00. Following the sale, the executive vice president directly owned 33,801 shares in the company, valued at $2,155,151.76. This trade represents a 17.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jana Partners Management, Lp sold 797,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total value of $52,139,740.00. Following the completion of the sale, the director owned 5,964,313 shares in the company, valued at approximately $390,185,356.46. This represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 848,980 shares of company stock worth $55,529,247 over the last quarter. Insiders own 1.40% of the company's stock.

Institutional Trading of Mercury Systems

Several large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its position in Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock valued at $32,000 after acquiring an additional 208 shares during the period. Brevan Howard Capital Management LP increased its position in shares of Mercury Systems by 0.9% during the 2nd quarter. Brevan Howard Capital Management LP now owns 22,861 shares of the technology company's stock valued at $1,231,000 after purchasing an additional 211 shares during the period. Cerity Partners LLC increased its position in shares of Mercury Systems by 0.4% during the 2nd quarter. Cerity Partners LLC now owns 57,552 shares of the technology company's stock valued at $3,100,000 after purchasing an additional 218 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company's stock valued at $50,000 after purchasing an additional 234 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Mercury Systems by 25.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,322 shares of the technology company's stock valued at $71,000 after purchasing an additional 264 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Trading Down 1.5%

Shares of NASDAQ MRCY opened at $73.13 on Friday. The stock's 50 day moving average price is $64.04 and its two-hundred day moving average price is $53.77. Mercury Systems has a 52-week low of $32.32 and a 52-week high of $78.75. The stock has a market capitalization of $4.39 billion, a P/E ratio of -110.80, a PEG ratio of 3.09 and a beta of 0.77. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.26. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The firm had revenue of $273.11 million for the quarter, compared to analysts' expectations of $244.56 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Mercury Systems's revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts anticipate that Mercury Systems will post -0.08 earnings per share for the current fiscal year.

Mercury Systems Company Profile

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.

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