Mercury Systems Inc $MRCY Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 17.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 532,687 shares of the technology company’s stock after selling 111,445 shares during the quarter. Royal Bank of Canada’s holdings in Mercury Systems were worth $38,839,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of Mercury Systems by 12.1% during the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after acquiring an additional 368,242 shares during the period. Invesco Ltd. grew its holdings in shares of Mercury Systems by 25.1% in the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock valued at $139,503,000 after purchasing an additional 383,299 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Mercury Systems by 1.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock worth $112,644,000 after purchasing an additional 21,182 shares during the last quarter. Geode Capital Management LLC raised its stake in Mercury Systems by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company’s stock worth $99,940,000 after purchasing an additional 47,174 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after purchasing an additional 290,989 shares during the period. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Trading Up 8.9%

NASDAQ MRCY opened at $105.79 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The stock has a market capitalization of $6.35 billion, a P/E ratio of -440.79 and a beta of 0.95. The firm’s 50-day moving average is $108.62 and its two-hundred day moving average is $94.12. Mercury Systems Inc has a 12 month low of $51.86 and a 12 month high of $128.45.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. On average, sell-side analysts anticipate that Mercury Systems Inc will post 0.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Zacks Research upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group raised their target price on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.78.

Insider Transactions at Mercury Systems

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the sale, the director owned 52,448 shares of the company’s stock, valued at $4,686,753.28. The trade was 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 available through this link. Also, EVP Steven Ratner sold 2,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $92.46, for a total value of $184,920.00. Following the transaction, the executive vice president owned 32,238 shares in the company, valued at $2,980,725.48. This trade represents a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 18,250 shares of company stock worth $1,733,220. 1.40% of the stock is currently owned by insiders.

Mercury Systems 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.