Mercury Systems (NASDAQ:MRCY) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Mercury Systems (NASDAQ:MRCY) released its quarterly earnings results on Tuesday. The technology company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09, FiscalAI reports. The company had revenue of $232.87 million during the quarter, compared to analysts’ expectations of $209.96 million. Mercury Systems had a positive return on equity of 1.14% and a negative net margin of 3.53%.

Mercury Systems Stock Up 5.9%

Shares of MRCY stock traded up $5.57 during mid-day trading on Tuesday, reaching $99.46. 784,437 shares of the company were exchanged, compared to its average volume of 719,874. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.31 and a current ratio of 3.37. The business’s 50 day simple moving average is $82.20 and its 200 day simple moving average is $73.97. The company has a market capitalization of $5.98 billion, a P/E ratio of -174.48, a P/E/G ratio of 4.16 and a beta of 0.75. Mercury Systems has a fifty-two week low of $39.89 and a fifty-two week high of $103.84.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MRCY. The Goldman Sachs Group lifted their target price on shares of Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, January 20th. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 target price on shares of Mercury Systems in a research note on Wednesday, November 5th. Royal Bank Of Canada set a $95.00 price target on Mercury Systems and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Finally, Truist Financial set a $102.00 price target on Mercury Systems in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Mercury Systems currently has a consensus rating of “Hold” and a consensus price target of $83.25.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 1,000,000 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the transaction, the director directly owned 4,966,675 shares in the company, valued at $374,735,628.75. This represents a 16.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Debora A. Plunkett sold 1,700 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $73.99, for a total transaction of $125,783.00. Following the completion of the sale, the director directly owned 16,833 shares of the company’s stock, valued at $1,245,473.67. The trade was a 9.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,003,029 shares of company stock worth $75,673,358 in the last ninety days. 1.40% of the stock is owned by insiders.

Institutional Trading of Mercury Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. grew its position in shares of Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after acquiring an additional 208 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Mercury Systems during the 2nd quarter valued at approximately $43,000. EverSource Wealth Advisors LLC lifted its stake in 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 last quarter. Wexford Capital LP acquired a new position in Mercury Systems in the third quarter worth $66,000. Finally, Evergreen Capital Management LLC acquired a new position in Mercury Systems in the second quarter worth $212,000. Institutional investors and hedge funds own 95.99% 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.