Mercury Systems Inc. Chief Executive William L. Ballhaus sold approximately $15.7 million worth of company stock on Aug. 21 and Aug. 24, according to regulatory filings.
The transactions followed the exercise of stock options totaling 244,848 common shares at prices between $42.00 and $43.00 per share, with a combined acquisition cost of roughly $10.3 million. Proceeds from the sales were primarily used to cover the exercise price, applicable withholding taxes and related transaction costs.
A total of 173,209 shares were disposed at weighted average prices ranging from $89.473 to $93.508. On Aug. 21, 64,796 shares were sold at an average price of $92.404, while 105,471 shares changed hands on Aug. 24 at an average price of $89.473. Post-transaction, Ballhaus holds 299,836.325 direct shares and an additional 7,066.173 shares indirectly through Milestone Road Holdings LLC.
Mercury Systems reported fiscal fourth-quarter revenue of $289.8 million, exceeding Wall Street expectations and reflecting 6.1% organic growth year-over-year. Adjusted earnings per share came in at $0.37, slightly below the $0.38 consensus estimate. The company’s order backlog surged 93.1% year-over-year to $1.945 billion, a 38.4% increase from the prior period.
Analysts at RBC Capital raised the price target to $120 from $105 while maintaining an Outperform rating. Piper Sandler increased its target to $131 from $126, citing strong booking growth, and Baird reiterated its Outperform rating with a $130 target.
