Citigroup Forecasts Strong Price Appreciation for Mirion Technologies (NYSE:MIR) Stock

Key Points

• Citigroup raised its price target for Mirion Technologies from $23.00 to $28.00, suggesting a potential upside of 20.42%.
• A total of eight investment analysts have rated Mirion Technologies, with two giving it a Strong Buy, six a Buy, and one a Hold, leading to a consensus price target of $26.33.
• Mirion Technologies reported a 7.6% year-over-year increase in revenue to $222.9 million for the recent quarter, surpassing analysts’ estimates.

Mirion Technologies (NYSE:MIR - Get Free Report) had its price target hoisted by research analysts at Citigroup from $23.00 to $28.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 20.42% from the stock's current price.

A number of other research analysts also recently issued reports on the company. Northland Securities boosted their price target on Mirion Technologies from $26.00 to $29.00 and gave the company an "outperform" rating in a report on Monday, September 29th. Wall Street Zen downgraded Mirion Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. initiated coverage on shares of Mirion Technologies in a research report on Friday, September 26th. They set an "overweight" rating and a $28.00 price objective on the stock. B. Riley reiterated a "buy" rating and set a $22.00 target price (up from $17.00) on shares of Mirion Technologies in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Mirion Technologies from $22.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $26.33.

Mirion Technologies Price Performance

Shares of NYSE MIR traded down $0.63 during trading hours on Thursday, reaching $23.25. 1,147,422 shares of the stock traded hands, compared to its average volume of 3,176,778. The company has a market capitalization of $5.44 billion, a P/E ratio of 775.60 and a beta of 0.88. The company has a quick ratio of 2.01, a current ratio of 2.54 and a debt-to-equity ratio of 0.55. Mirion Technologies has a 52-week low of $12.00 and a 52-week high of $25.16. The company's 50-day simple moving average is $21.94 and its two-hundred day simple moving average is $19.32.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $222.90 million for the quarter, compared to the consensus estimate of $216.78 million. Mirion Technologies had a net margin of 1.12% and a return on equity of 6.57%. The business's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. Equities research analysts forecast that Mirion Technologies will post 0.39 EPS for the current year.

Insider Activity

In other news, CEO Thomas D. Logan sold 325,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $21.31, for a total transaction of $6,925,750.00. Following the sale, the chief executive officer directly owned 3,742,305 shares in the company, valued at approximately $79,748,519.55. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company's stock.

Institutional Trading of Mirion Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fortress Investment Group LLC purchased a new stake in Mirion Technologies in the second quarter worth $32,000. EverSource Wealth Advisors LLC increased its position in shares of Mirion Technologies by 470.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $35,000 after acquiring an additional 1,354 shares during the period. AlphaQuest LLC increased its position in shares of Mirion Technologies by 360,400.0% during the first quarter. AlphaQuest LLC now owns 3,605 shares of the company's stock worth $52,000 after acquiring an additional 3,604 shares during the period. FSC Wealth Advisors LLC purchased a new position in shares of Mirion Technologies during the second quarter worth approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Mirion Technologies during the first quarter worth approximately $68,000. 78.51% of the stock is owned by hedge funds and other institutional investors.

About Mirion Technologies

Mirion Technologies, Inc provides radiation detection, measurement, analysis, and monitoring products and services in the United States, Canada, the United Kingdom, France, Germany, Finland, China, Belgium, Netherlands, Estonia, South Korea, and Japan. It operates through two segments, Medical and Technologies.

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