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

Key Points

• Mercury Systems Inc (NASDAQ:MRCY) has received a consensus rating of "Moderate Buy" from analysts, with an average one-year price target of approximately $73.89.
• The company's CEO recently sold over 13,000 shares at an average price of $64.46, reducing their ownership by 3.36%.
• Institutional investors own around 95.99% of Mercury Systems stock, with several firms significantly increasing their stakes during the second quarter.

Shares of Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $73.8889.

MRCY has been the topic of a number of recent analyst reports. Wall Street Zen lowered Mercury Systems from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Raymond James Financial raised Mercury Systems from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $55.00 to $80.00 in a research note on Tuesday, August 12th. The Goldman Sachs Group lifted their price objective on Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. lifted their price objective on Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 12th. Finally, Canaccord Genuity Group initiated coverage on Mercury Systems in a research note on Thursday, October 2nd. They issued a "buy" rating and a $88.00 price objective on the stock.

Insider Buying and Selling

In other Mercury Systems news, CEO William L. Ballhaus sold 13,050 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 374,976 shares of the company's stock, valued at approximately $24,170,952.96. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David E. Farnsworth sold 7,572 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $488,091.12. Following the completion of the transaction, the executive vice president directly owned 161,326 shares in the company, valued at approximately $10,399,073.96. This trade represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 848,980 shares of company stock valued at $55,529,247 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mercury Systems

Institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its stake in 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 buying an additional 208 shares during the period. Quaker Wealth Management LLC raised its position in shares of Mercury Systems by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company's stock worth $35,000 after purchasing an additional 1,288 shares during the period. Federated Hermes Inc. acquired a new position in shares of Mercury Systems during the second quarter worth approximately $43,000. EverSource Wealth Advisors LLC raised its position in shares of Mercury Systems by 33.7% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company's stock worth $50,000 after purchasing an additional 234 shares during the period. Finally, GAMMA Investing LLC raised its position 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 worth $46,000 after purchasing an additional 395 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $77.04 on Tuesday. The stock has a market cap of $4.62 billion, a P/E ratio of -116.73, a price-to-earnings-growth ratio of 3.09 and a beta of 0.82. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. The stock's 50-day moving average is $73.00 and its 200-day moving average is $57.98. Mercury Systems has a 1-year low of $32.32 and a 1-year high of $85.33.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share for the quarter. The company had revenue of $256.86 million for the quarter. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%. Equities research analysts anticipate that Mercury Systems will post -0.08 earnings per share for the current 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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