Mercury Systems (NASDAQ:MRCY) Hits New 12-Month High – Time to Buy?

Mercury Systems Inc (NASDAQ:MRCY) reached a new 52-week high during trading on Thursday . The stock traded as high as $104.95 and last traded at $104.33, with a volume of 278801 shares changing hands. The stock had previously closed at $97.11.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Canaccord Genuity Group increased their price objective on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Truist Financial raised Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Jefferies Financial Group reissued a “hold” rating and issued a $95.00 price objective on shares of Mercury Systems in a report on Sunday, May 10th. The Goldman Sachs Group increased their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.89.

Mercury Systems Stock Performance

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 50-day simple moving average of $83.52 and a 200-day simple moving average of $82.34. The stock has a market cap of $6.33 billion, a P/E ratio of -439.00 and a beta of 0.83.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $235.76 million for the quarter, compared to analysts’ expectations of $208.56 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts forecast that Mercury Systems Inc will post 0.18 earnings per share for the current year.

Insider Transactions at Mercury Systems

In other news, Director Jana Partners Management, Lp sold 182,510 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $94.05, for a total transaction of $17,165,065.50. Following the sale, the director directly owned 4,384,165 shares in the company, valued at approximately $412,330,718.25. The trade was a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $92.46, for a total value of $184,920.00. Following the sale, the executive vice president owned 32,238 shares in the company, valued at approximately $2,980,725.48. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 473,932 shares of company stock valued at $43,453,119. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Mercury Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Leonteq Securities AG bought a new stake in shares of Mercury Systems during the fourth quarter worth about $35,000. Hollencrest Capital Management bought a new stake in shares of Mercury Systems during the fourth quarter worth about $37,000. AlphaQuest LLC grew its holdings in shares of Mercury Systems by 41.9% during the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after purchasing an additional 168 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Mercury Systems by 53.6% during the fourth 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. 95.99% of the stock is currently owned by institutional investors.

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.