Mercury Systems (NASDAQ:MRCY) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Mercury Systems (NASDAQ:MRCY) posted its quarterly earnings results on Tuesday. The technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09, FiscalAI reports. Mercury Systems had a negative net margin of 3.53% and a positive return on equity of 1.14%. The firm had revenue of $232.87 million for the quarter, compared to analysts’ expectations of $209.96 million.

Mercury Systems Stock Performance

Shares of MRCY stock traded up $5.39 during mid-day trading on Tuesday, reaching $99.28. 939,235 shares of the company’s stock traded hands, compared to its average volume of 722,354. Mercury Systems has a 12 month low of $39.89 and a 12 month high of $103.84. The firm has a 50 day moving average price of $82.20 and a two-hundred day moving average price of $73.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.31 and a current ratio of 3.37. The firm has a market capitalization of $5.97 billion, a PE ratio of -174.18, a price-to-earnings-growth ratio of 4.16 and a beta of 0.75.

Insider Activity at Mercury Systems

In related news, Director Debora A. Plunkett sold 1,700 shares of Mercury Systems stock in a transaction on Friday, November 7th. The stock was sold at an average price of $73.99, for a total transaction of $125,783.00. Following the transaction, the director directly owned 16,833 shares in the company, valued at approximately $1,245,473.67. The trade was a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Douglas Munro sold 1,329 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $73.42, for a total value of $97,575.18. Following the completion of the sale, the chief accounting officer owned 14,678 shares of the company’s stock, valued at approximately $1,077,658.76. The trade was a 8.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,003,029 shares of company stock worth $75,673,358. Corporate insiders own 1.40% 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. Osaic Holdings Inc. increased its stake in shares of Mercury Systems by 53.2% in 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 in the last quarter. Federated Hermes Inc. bought a new position in Mercury Systems in the 2nd quarter worth $43,000. Wexford Capital LP purchased a new stake in Mercury Systems in the 3rd quarter worth $66,000. EverSource Wealth Advisors LLC raised its holdings in Mercury Systems by 33.7% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock valued at $50,000 after acquiring an additional 234 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Mercury Systems in the third quarter valued at about $254,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Analyst Ratings Changes

MRCY has been the topic of a number of research analyst reports. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Truist Financial set a $102.00 price objective on shares of Mercury Systems in a report on Friday, January 9th. Royal Bank Of Canada set a $95.00 target price on shares of Mercury Systems and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 target price on shares of Mercury Systems in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Mercury Systems presently has a consensus rating of “Hold” and a consensus price target of $83.25.

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.