Orlando Carvalho Sells 7,000 Shares of Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Orlando Carvalho sold 7,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the sale, the director directly owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mercury Systems Stock Up 2.2%

Shares of MRCY opened at $94.54 on Friday. The company has a 50-day simple moving average of $81.53 and a 200-day simple moving average of $81.16. The firm has a market capitalization of $5.68 billion, a P/E ratio of -393.92, a P/E/G ratio of 8.96 and a beta of 0.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. Mercury Systems Inc has a 52 week low of $44.01 and a 52 week high of $103.84.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. During the same period last year, the business earned $0.06 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that Mercury Systems Inc will post 0.18 earnings per share for the current year.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds and other institutional investors have recently modified their holdings of MRCY. Leonteq Securities AG bought a new stake in Mercury Systems in the fourth quarter valued at $35,000. Hollencrest Capital Management bought a new position in shares of Mercury Systems during the fourth quarter valued at $37,000. AlphaQuest LLC boosted its stake in shares of Mercury Systems by 41.9% in the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock valued at $44,000 after purchasing an additional 168 shares in the last quarter. Osaic Holdings Inc. boosted its stake 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 valued at $32,000 after purchasing an additional 208 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Mercury Systems by 53.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 95.99% of the company’s stock.

Analyst Ratings Changes

MRCY has been the subject of a number of recent research reports. Canaccord Genuity Group upped 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 reiterated an “outperform” rating and set a $105.00 price target on shares of Mercury Systems in a research note on Wednesday, February 4th. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Jefferies Financial Group restated a “hold” rating and issued a $95.00 price objective on shares of Mercury Systems in a research note on Sunday. Finally, The Goldman Sachs Group lifted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.89.

Mercury Systems Company Profile

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.