Mercury Systems (NASDAQ:MRCY) Issues Earnings Results

Mercury Systems (NASDAQ:MRCY) posted its quarterly earnings results on Tuesday. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.30 by $0.22, FiscalAI reports. The company had revenue of $253.15 million during the quarter, compared to analysts’ expectations of $245.00 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.

Mercury Systems Stock Up 5.0%

Shares of Mercury Systems stock traded up $3.96 during trading on Tuesday, reaching $83.58. The company had a trading volume of 1,380,567 shares, compared to its average volume of 677,291. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96. The firm’s fifty day moving average is $80.18 and its 200-day moving average is $91.07. Mercury Systems has a fifty-two week low of $64.37 and a fifty-two week high of $128.45. The company has a market cap of $5.09 billion, a price-to-earnings ratio of -167.16 and a beta of 0.98.

Insider Buying and Selling at Mercury Systems

In related news, EVP Steven Ratner sold 4,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $84.51, for a total transaction of $338,040.00. Following the sale, the executive vice president owned 19,275 shares in the company, valued at $1,628,930.25. This represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stuart Kupinsky sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $76.00, for a total value of $76,000.00. Following the transaction, the executive vice president owned 59,971 shares of the company’s stock, valued at $4,557,796. This represents a 1.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 452,186 shares of company stock worth $41,933,170 over the last 90 days. Insiders own 0.99% of the company’s stock.

Analysts Set New Price Targets

MRCY has been the subject of a number of research reports. Wall Street Zen cut Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Oppenheimer initiated coverage on Mercury Systems in a research report on Thursday, October 22nd. They issued an “outperform” rating and a $90.00 target price for the company. Guggenheim initiated coverage on Mercury Systems in a report on Monday, September 14th. They set a “buy” rating and a $115.00 target price on the stock. Piper Sandler reduced their price target on Mercury Systems from $131.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. Finally, Weiss Ratings cut Mercury Systems from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $107.90.

About Mercury Systems

Mercury Systems, Inc. develops and supplies secure processing systems and subsystems for the aerospace and defense industries. Its products include embedded computing, signal processing, radio-frequency and microwave components, and other technologies used to process and manage critical data. The company’s technologies support applications such as radar, electronic warfare, communications, avionics, and command-and-control systems. Mercury works with defense contractors and government customers, providing components and systems designed for use in demanding environments.