Mercury Systems Inc (NASDAQ:MRCY) CFO Michael Ruppert sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $83.09, for a total value of $1,246,350.00. Following the sale, the chief financial officer now owns 123,752 shares of the company’s stock, valued at approximately $10,282,553.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of MRCY stock opened at $81.11 on Friday. The business’s fifty day moving average price is $83.91 and its 200 day moving average price is $72.83. The firm has a market capitalization of $4.50 billion, a PE ratio of 53.36, a P/E/G ratio of 4.18 and a beta of 1.11. Mercury Systems Inc has a 1-year low of $41.16 and a 1-year high of $89.44.
Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, July 30th. The technology company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.11. The company had revenue of $176.96 million for the quarter, compared to the consensus estimate of $171.98 million. Mercury Systems had a return on equity of 8.11% and a net margin of 7.14%. Mercury Systems’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 earnings per share. On average, equities research analysts anticipate that Mercury Systems Inc will post 1.72 earnings per share for the current year.
MRCY has been the topic of several research analyst reports. Goldman Sachs Group initiated coverage on Mercury Systems in a research report on Friday, August 16th. They set a “neutral” rating and a $75.00 price target on the stock. Bank of America raised Mercury Systems from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $50.00 to $85.00 in a research report on Friday, August 9th. BidaskClub raised Mercury Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th. Finally, Zacks Investment Research raised Mercury Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $73.50.
Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Mercury Systems by 11.4% in the second quarter. BlackRock Inc. now owns 8,689,566 shares of the technology company’s stock valued at $611,311,000 after acquiring an additional 889,855 shares in the last quarter. Vanguard Group Inc. increased its stake in Mercury Systems by 14.5% in the second quarter. Vanguard Group Inc. now owns 5,510,286 shares of the technology company’s stock valued at $387,649,000 after purchasing an additional 696,956 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Mercury Systems by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 1,643,521 shares of the technology company’s stock valued at $115,623,000 after purchasing an additional 27,345 shares during the last quarter. Invesco Ltd. increased its stake in Mercury Systems by 231.4% in the second quarter. Invesco Ltd. now owns 1,317,313 shares of the technology company’s stock valued at $92,673,000 after purchasing an additional 919,854 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in Mercury Systems by 11.7% in the first quarter. Federated Investors Inc. PA now owns 1,015,224 shares of the technology company’s stock valued at $65,056,000 after purchasing an additional 106,624 shares during the last quarter. Institutional investors and hedge funds own 95.03% of the company’s stock.
About Mercury Systems
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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