Several other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Mercury Systems from a sell rating to a hold rating in a research report on Tuesday, August 6th. Bank of America raised shares of Mercury Systems from an underperform rating to a neutral rating and boosted their price objective for the company from $50.00 to $85.00 in a research report on Friday, August 9th. Finally, Goldman Sachs Group assumed coverage on shares of Mercury Systems in a research report on Friday, August 16th. They issued a neutral rating and a $75.00 price objective on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $73.50.
MRCY opened at $83.21 on Tuesday. The stock has a market capitalization of $4.65 billion, a P/E ratio of 54.74, a P/E/G ratio of 4.19 and a beta of 1.11. Mercury Systems has a 12 month low of $41.16 and a 12 month high of $89.44. The firm’s fifty day simple moving average is $83.37 and its 200 day simple moving average is $72.06.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.36 by $0.11. The business had revenue of $176.96 million for the quarter, compared to analysts’ expectations of $171.98 million. Mercury Systems had a net margin of 7.14% and a return on equity of 8.11%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. As a group, equities research analysts predict that Mercury Systems will post 1.72 EPS for the current fiscal year.
In other Mercury Systems news, CAO Michelle M. Mccarthy sold 624 shares of Mercury Systems stock in a transaction on Monday, August 19th. The shares were sold at an average price of $84.99, for a total value of $53,033.76. Following the sale, the chief accounting officer now directly owns 10,982 shares in the company, valued at approximately $933,360.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher C. Cambria sold 10,000 shares of Mercury Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $88.61, for a total transaction of $886,100.00. Following the completion of the sale, the executive vice president now owns 67,152 shares in the company, valued at $5,950,338.72. The disclosure for this sale can be found here. Insiders sold a total of 73,788 shares of company stock worth $6,231,167 over the last quarter. Company insiders own 2.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Aperio Group LLC increased its stake in Mercury Systems by 21.7% in the 2nd quarter. Aperio Group LLC now owns 16,395 shares of the technology company’s stock valued at $1,153,000 after buying an additional 2,922 shares during the last quarter. SG Americas Securities LLC increased its stake in Mercury Systems by 1,751.6% in the 2nd quarter. SG Americas Securities LLC now owns 40,050 shares of the technology company’s stock valued at $2,818,000 after buying an additional 37,887 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Mercury Systems in the 1st quarter valued at $227,000. State of Alaska Department of Revenue increased its stake in shares of Mercury Systems by 15.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 18,842 shares of the technology company’s stock worth $1,325,000 after purchasing an additional 2,511 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in shares of Mercury Systems during the 2nd quarter worth about $2,481,000. Hedge funds and other institutional investors own 95.03% of the company’s stock.
About Mercury Systems
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
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