Mercury Systems Inc $MRCY Stock Position Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Mercury Systems Inc (NASDAQ:MRCY) by 89.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 21,187 shares of the technology company’s stock after buying an additional 10,015 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mercury Systems were worth $1,547,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. increased its stake in Mercury Systems by 161.7% in the 3rd quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock worth $118,224,000 after purchasing an additional 943,736 shares in the last quarter. First Trust Advisors LP lifted its stake in Mercury Systems by 96.3% during the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock valued at $118,640,000 after buying an additional 751,813 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Mercury Systems by 287.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 693,867 shares of the technology company’s stock worth $56,328,000 after buying an additional 514,756 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after buying an additional 290,989 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Mercury Systems by 118,133.6% in 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 in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of Mercury Systems from $85.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. Truist Financial lifted their price objective on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. The Goldman Sachs Group increased their target price on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, January 20th. Finally, Canaccord Genuity Group set a $102.00 price target on Mercury Systems in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Mercury Systems presently has a consensus rating of “Hold” and an average price target of $86.33.

Mercury Systems Price Performance

NASDAQ MRCY opened at $76.65 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of -144.61, a price-to-earnings-growth ratio of 7.46 and a beta of 0.84. The company has a 50 day simple moving average of $81.71 and a 200-day simple moving average of $80.42. Mercury Systems Inc has a 52-week low of $44.01 and a 52-week high of $103.84.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $232.87 million for the quarter, compared to the consensus estimate of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. Equities research analysts predict that Mercury Systems Inc will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In related news, EVP Stuart Kupinsky sold 2,287 shares of Mercury Systems stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $191,101.72. Following the completion of the sale, the executive vice president owned 68,010 shares of the company’s stock, valued at approximately $5,682,915.60. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard L. Lance sold 4,832 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $88.98, for a total value of $429,951.36. Following the completion of the transaction, the director directly owned 27,272 shares in the company, valued at approximately $2,426,662.56. The trade was a 15.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 863,383 shares of company stock worth $74,789,584. 1.40% of the stock is currently owned by company insiders.

Mercury Systems 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.