Price T Rowe Associates Inc. MD increased its position in Mercury Systems Inc (NASDAQ:MRCY) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,706 shares of the technology company’s stock after purchasing an additional 241 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Mercury Systems were worth $1,527,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MRCY. First Trust Advisors LP lifted its stake in shares of Mercury Systems by 15.1% in the 1st quarter. First Trust Advisors LP now owns 60,527 shares of the technology company’s stock valued at $3,879,000 after purchasing an additional 7,934 shares during the period. NumerixS Investment Technologies Inc purchased a new position in Mercury Systems during the first quarter valued at $128,000. Neuberger Berman Group LLC raised its stake in Mercury Systems by 1.1% during the first quarter. Neuberger Berman Group LLC now owns 459,244 shares of the technology company’s stock valued at $29,426,000 after buying an additional 5,035 shares during the last quarter. Quantinno Capital Management LP purchased a new position in Mercury Systems during the first quarter valued at $550,000. Finally, Empowered Funds LLC purchased a new position in Mercury Systems during the second quarter valued at $1,143,000. Institutional investors own 95.03% of the company’s stock.
MRCY stock opened at $75.59 on Friday. Mercury Systems Inc has a 1-year low of $41.16 and a 1-year high of $89.44. The business has a fifty day moving average price of $81.80 and a 200-day moving average price of $73.86. The stock has a market capitalization of $4.08 billion, a P/E ratio of 47.79, a P/E/G ratio of 3.68 and a beta of 1.08.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.11. Mercury Systems had a return on equity of 8.11% and a net margin of 7.14%. The firm had revenue of $176.96 million during the quarter, compared to analysts’ expectations of $171.98 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. Analysts expect that Mercury Systems Inc will post 1.72 EPS for the current year.
In related news, CAO Michelle M. Mccarthy sold 624 shares of Mercury Systems stock in a transaction on Monday, August 19th. The stock was sold at an average price of $84.99, for a total value of $53,033.76. Following the completion of the sale, the chief accounting officer now owns 10,982 shares of the company’s stock, valued at $933,360.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Aslett sold 6,250 shares of Mercury Systems stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $73.53, for a total value of $459,562.50. Following the completion of the sale, the chief executive officer now directly owns 353,563 shares of the company’s stock, valued at approximately $25,997,487.39. The disclosure for this sale can be found here. Insiders sold 80,038 shares of company stock valued at $6,690,729 in the last 90 days. Company insiders own 2.10% of the company’s stock.
Several research firms have recently weighed in on MRCY. Goldman Sachs Group began coverage on Mercury Systems in a research note on Friday, August 16th. They issued a “neutral” rating and a $75.00 price target for the company. Zacks Investment Research upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. BidaskClub upgraded Mercury Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Bank of America upgraded Mercury Systems from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $50.00 to $85.00 in a research note on Friday, August 9th. Finally, ValuEngine cut Mercury Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.50.
Mercury Systems Company Profile
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
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