BlackRock Inc. grew its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 8.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,274,536 shares of the technology company’s stock after acquiring an additional 672,821 shares during the quarter. BlackRock Inc. owned 17.17% of Mercury Systems worth $314,928,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of Montreal Can acquired a new stake in shares of Mercury Systems during the second quarter worth about $100,000. Engineers Gate Manager LP acquired a new stake in shares of Mercury Systems during the second quarter worth about $206,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Mercury Systems during the first quarter worth about $264,000. First Mercantile Trust Co. lifted its holdings in shares of Mercury Systems by 35.5% during the first quarter. First Mercantile Trust Co. now owns 5,721 shares of the technology company’s stock worth $276,000 after purchasing an additional 1,498 shares during the period. Finally, Brinker Capital Inc. acquired a new stake in shares of Mercury Systems during the first quarter worth about $316,000. 96.81% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on MRCY shares. BidaskClub raised Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 29th. ValuEngine raised Mercury Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Zacks Investment Research downgraded Mercury Systems from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, Canaccord Genuity started coverage on Mercury Systems in a report on Thursday. They set a “buy” rating and a $64.00 target price for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $53.14.
In related news, COO Didier M. C. Thibaud sold 28,000 shares of Mercury Systems stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $48.00, for a total transaction of $1,344,000.00. Following the completion of the transaction, the chief operating officer now directly owns 320,440 shares in the company, valued at $15,381,120. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Didier M. C. Thibaud sold 3,500 shares of Mercury Systems stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $54.23, for a total value of $189,805.00. Following the transaction, the chief operating officer now owns 318,525 shares of the company’s stock, valued at $17,273,610.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,200 shares of company stock valued at $3,806,642. 2.80% of the stock is owned by company insiders.
MRCY stock traded down $0.01 during trading on Monday, hitting $54.62. 296,700 shares of the company traded hands, compared to its average volume of 484,619. The company has a current ratio of 4.63, a quick ratio of 3.11 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.68 billion, a P/E ratio of 48.50, a P/E/G ratio of 3.81 and a beta of 0.52. Mercury Systems Inc has a 1 year low of $30.11 and a 1 year high of $57.26.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, July 31st. The technology company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $152.87 million during the quarter, compared to analysts’ expectations of $149.31 million. Mercury Systems had a return on equity of 7.47% and a net margin of 8.29%. Mercury Systems’s quarterly revenue was up 32.2% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. On average, research analysts predict that Mercury Systems Inc will post 1.36 earnings per share for the current fiscal year.
Mercury Systems Profile
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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