Mercury Systems (NASDAQ:MRCY) Shares Down 5.7%

Mercury Systems Inc (NASDAQ:MRCY)’s stock price fell 5.7% during mid-day trading on Monday . The stock traded as low as $68.87 and last traded at $69.10, 584,308 shares traded hands during mid-day trading. An increase of 21% from the average session volume of 482,017 shares. The stock had previously closed at $73.25.

Several research firms recently issued reports on MRCY. ValuEngine lowered shares of Mercury Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Goldman Sachs Group began coverage on shares of Mercury Systems in a research report on Friday, August 16th. They issued a “neutral” rating and a $75.00 price target for the company. Bank of America raised shares of Mercury Systems from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $50.00 to $85.00 in a research report on Friday, August 9th. BidaskClub lowered shares of Mercury Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Zacks Investment Research raised shares of Mercury Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.50.

The company has a market cap of $3.84 billion, a price-to-earnings ratio of 45.46, a price-to-earnings-growth ratio of 3.50 and a beta of 1.02. The company’s fifty day moving average price is $72.41 and its two-hundred day moving average price is $74.86. The company has a quick ratio of 3.77, a current ratio of 5.35 and a debt-to-equity ratio of 0.04.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The company had revenue of $177.30 million during the quarter, compared to analyst estimates of $168.36 million. Mercury Systems had a net margin of 8.51% and a return on equity of 7.59%. The company’s revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. Research analysts forecast that Mercury Systems Inc will post 1.76 earnings per share for the current year.

In other news, COO Didier M. C. Thibaud sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $84.12, for a total transaction of $2,523,600.00. Following the completion of the sale, the chief operating officer now owns 262,365 shares of the company’s stock, valued at $22,070,143.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael A. Daniels sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $77.68, for a total transaction of $116,520.00. Following the sale, the director now directly owns 73,937 shares of the company’s stock, valued at approximately $5,743,426.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,000 shares of company stock valued at $6,049,155. Company insiders own 2.80% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC bought a new position in Mercury Systems in the third quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC boosted its stake in Mercury Systems by 250.0% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 700 shares of the technology company’s stock valued at $49,000 after acquiring an additional 500 shares during the last quarter. Pearl River Capital LLC bought a new position in Mercury Systems in the second quarter valued at approximately $76,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in Mercury Systems in the second quarter valued at approximately $79,000. Finally, LS Investment Advisors LLC boosted its stake in Mercury Systems by 10.1% in the second quarter. LS Investment Advisors LLC now owns 1,595 shares of the technology company’s stock valued at $112,000 after acquiring an additional 146 shares during the last quarter. 96.77% of the stock is owned by institutional investors and hedge funds.

About Mercury Systems (NASDAQ:MRCY)

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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