Mercury Systems (NASDAQ:MRCY) Reaches New 52-Week High – Time to Buy?

Mercury Systems, Inc. (NASDAQ:MRCY)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $53.19 and last traded at $53.14, with a volume of 632977 shares traded. The stock had previously closed at $52.01.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MRCY. Royal Bank of Canada lifted their price objective on Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Wednesday, May 7th. The Goldman Sachs Group upped their price objective on Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a report on Monday, May 12th. Finally, Truist Financial upped their target price on Mercury Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $47.29.

Mercury Systems Price Performance

The firm has a market capitalization of $3.18 billion, a P/E ratio of -34.06 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. The business has a 50 day simple moving average of $47.62 and a two-hundred day simple moving average of $44.33.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $211.36 million for the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.26) EPS. On average, sell-side analysts expect that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Insider Activity

In other Mercury Systems news, EVP Steven Ratner sold 3,892 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $47.70, for a total value of $185,648.40. Following the completion of the transaction, the executive vice president now owns 56,187 shares in the company, valued at approximately $2,680,119.90. This represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total value of $4,078,793.04. Following the completion of the transaction, the director now owns 6,861,313 shares of the company’s stock, valued at approximately $317,472,952.51. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

Several institutional investors have recently modified their holdings of MRCY. Sterling Capital Management LLC lifted its position in shares of Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after buying an additional 1,449 shares in the last quarter. Victory Capital Management Inc. increased its stake in Mercury Systems by 16.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock worth $86,526,000 after acquiring an additional 294,747 shares during the last quarter. Principal Financial Group Inc. increased its stake in Mercury Systems by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company’s stock worth $10,327,000 after acquiring an additional 7,512 shares during the last quarter. Vanguard Group Inc. increased its stake in Mercury Systems by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company’s stock worth $233,126,000 after acquiring an additional 41,324 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Mercury Systems by 35.1% during the 4th quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company’s stock valued at $12,479,000 after purchasing an additional 77,254 shares during the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.