Mercury Systems (NASDAQ:MRCY) EVP David Farnsworth Sells 7,339 Shares of Stock

Mercury Systems Inc (NASDAQ:MRCY) EVP David Farnsworth sold 7,339 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $66.52, for a total value of $488,190.28. Following the transaction, the executive vice president owned 168,898 shares of the company’s stock, valued at approximately $11,235,094.96. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $64.54 on Thursday. The stock has a market cap of $3.87 billion, a PE ratio of -97.79, a P/E/G ratio of 3.01 and a beta of 0.72. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a twelve month low of $32.32 and a twelve month high of $69.95. The stock has a fifty day simple moving average of $53.99 and a 200-day simple moving average of $49.03.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.26. The business had revenue of $273.11 million during the quarter, compared to analysts’ expectations of $244.56 million. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. Equities analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Mercury Systems

Several large investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in Mercury Systems by 8.7% during the 2nd quarter. State Street Corp now owns 3,246,573 shares of the technology company’s stock worth $174,860,000 after purchasing an additional 259,388 shares during the period. Conestoga Capital Advisors LLC increased its stake in shares of Mercury Systems by 13.3% during the second quarter. Conestoga Capital Advisors LLC now owns 2,558,935 shares of the technology company’s stock worth $137,824,000 after buying an additional 300,749 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Mercury Systems by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company’s stock worth $92,490,000 after buying an additional 52,725 shares during the period. Bamco Inc. NY increased its stake in shares of Mercury Systems by 3.2% during the second quarter. Bamco Inc. NY now owns 1,234,801 shares of the technology company’s stock worth $66,506,000 after buying an additional 38,755 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Mercury Systems by 196.1% during the fourth quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock worth $42,987,000 after buying an additional 677,894 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MRCY shares. The Goldman Sachs Group increased 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. Truist Financial increased their target price on Mercury Systems from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Raymond James Financial raised Mercury Systems from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $55.00 to $80.00 in a research note on Tuesday, August 12th. JPMorgan Chase & Co. increased their target price 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, Robert W. Baird increased their target price on Mercury Systems from $58.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.71.

About Mercury Systems

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.