Vanguard Group Inc. Boosts Stock Position in Mercury Systems Inc $MRCY

Vanguard Group Inc. grew its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 4.0% during the third quarter, HoldingsChannel.com reports. The firm owned 5,731,033 shares of the technology company’s stock after acquiring an additional 221,093 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Mercury Systems worth $443,582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MRCY. Loomis Sayles & Co. L P boosted its stake in shares of Mercury Systems by 321.7% during the second quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock valued at $53,462,000 after purchasing an additional 757,216 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Mercury Systems by 287.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 693,867 shares of the technology company’s stock valued at $56,328,000 after buying an additional 514,756 shares in the last quarter. Emerald Advisers LLC purchased a new stake in Mercury Systems in the 2nd quarter valued at about $24,599,000. Goldman Sachs Group Inc. grew its stake in Mercury Systems by 51.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after acquiring an additional 290,989 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Mercury Systems by 118,133.6% during the third quarter. Bessemer Group Inc. now owns 274,302 shares of the technology company’s stock worth $21,232,000 after acquiring an additional 274,070 shares during the period. 95.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MRCY has been the subject of a number of research reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 price target on shares of Mercury Systems in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $105.00 price target on shares of Mercury Systems in a research note on Wednesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Mercury Systems in a research note on Sunday, February 8th. Finally, Truist Financial raised their target price on shares of Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.89.

Mercury Systems Price Performance

Shares of MRCY opened at $89.30 on Thursday. The company has a 50 day moving average of $86.86 and a two-hundred day moving average of $77.65. The company has a quick ratio of 2.04, a current ratio of 2.96 and a debt-to-equity ratio of 0.41. Mercury Systems Inc has a twelve month low of $39.89 and a twelve month high of $103.84. The company has a market cap of $5.36 billion, a price-to-earnings ratio of -168.49, a price-to-earnings-growth ratio of 7.35 and a beta of 0.75.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The firm had revenue of $232.87 million during the quarter, compared to analyst estimates of $209.96 million. During the same quarter in the prior year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Stuart Kupinsky sold 2,287 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $191,101.72. Following the sale, the executive vice president owned 68,010 shares in the company, valued at approximately $5,682,915.60. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jana Partners Management, Lp sold 400,000 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $81.00, for a total transaction of $32,400,000.00. Following the completion of the transaction, the director directly owned 4,566,675 shares of the company’s stock, valued at $369,900,675. The trade was a 8.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 402,869 shares of company stock valued at $32,639,734. 1.40% of the stock is currently owned by corporate insiders.

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.