Mercury Systems (NASDAQ:MRCY) Announces Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Mercury Systems (NASDAQ:MRCY) announced its quarterly earnings data on Tuesday. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.15, reports. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. The firm had revenue of $204.43 million for the quarter, compared to the consensus estimate of $181.08 million.

Mercury Systems Trading Up 23.5 %

Shares of MRCY stock opened at $42.22 on Thursday. The company has a market cap of $2.51 billion, a P/E ratio of -17.67 and a beta of 0.71. Mercury Systems has a fifty-two week low of $25.31 and a fifty-two week high of $42.93. The stock has a 50 day simple moving average of $36.00 and a two-hundred day simple moving average of $33.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07.

Analyst Ratings Changes

MRCY has been the subject of several research analyst reports. Robert W. Baird boosted their price objective on shares of Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Truist Financial boosted their target price on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Finally, Royal Bank of Canada upped their price target on shares of Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.50.

Insiders Place Their Bets

In related news, Director Debora A. Plunkett sold 1,843 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $38.07, for a total transaction of $70,163.01. Following the transaction, the director now owns 11,339 shares in the company, valued at $431,675.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William L. Ballhaus sold 6,549 shares of Mercury Systems stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $258,620.01. Following the completion of the sale, the chief executive officer now owns 353,481 shares of the company’s stock, valued at approximately $13,958,964.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Debora A. Plunkett sold 1,843 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $38.07, for a total transaction of $70,163.01. Following the transaction, the director now owns 11,339 shares in the company, valued at approximately $431,675.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,099 shares of company stock worth $865,740. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Several large investors have recently added to or reduced their stakes in MRCY. Sei Investments Co. grew its holdings in Mercury Systems by 27.0% during the first quarter. Sei Investments Co. now owns 216,956 shares of the technology company’s stock worth $6,400,000 after buying an additional 46,132 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Mercury Systems by 102.6% during the first quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock valued at $7,597,000 after purchasing an additional 130,396 shares in the last quarter. Natixis purchased a new position in Mercury Systems during the first quarter worth about $693,000. William Blair Investment Management LLC boosted its holdings in Mercury Systems by 0.6% during the second quarter. William Blair Investment Management LLC now owns 6,416,449 shares of the technology company’s stock worth $173,180,000 after purchasing an additional 36,923 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in Mercury Systems in the 2nd quarter valued at about $526,000. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Company Profile

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.