Sumitomo Life Insurance Co. Makes New $329,000 Investment in Mirion Technologies, Inc. (NYSE:MIR)

Sumitomo Life Insurance Co. bought a new position in Mirion Technologies, Inc. (NYSE:MIR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,676 shares of the company's stock, valued at approximately $329,000.

A number of other institutional investors have also recently added to or reduced their stakes in MIR. Arrowstreet Capital Limited Partnership lifted its position in shares of Mirion Technologies by 29,948.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,214,921 shares of the company's stock valued at $73,550,000 after acquiring an additional 4,200,894 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of Mirion Technologies in the fourth quarter worth $66,520,000. William Blair Investment Management LLC acquired a new position in shares of Mirion Technologies in the fourth quarter worth $53,066,000. Bornite Capital Management LP acquired a new position in Mirion Technologies during the fourth quarter worth $36,942,000. Finally, Millennium Management LLC increased its position in Mirion Technologies by 100.6% during the fourth quarter. Millennium Management LLC now owns 3,105,374 shares of the company's stock worth $54,189,000 after buying an additional 1,557,077 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Mirion Technologies Stock Performance

MIR stock traded up $0.46 during mid-day trading on Wednesday, reaching $21.20. 1,216,273 shares of the stock traded hands, compared to its average volume of 2,154,415. The company has a quick ratio of 1.69, a current ratio of 2.23 and a debt-to-equity ratio of 0.44. Mirion Technologies, Inc. has a 52 week low of $9.11 and a 52 week high of $22.21. The business has a 50-day moving average of $19.44 and a two-hundred day moving average of $16.80. The firm has a market capitalization of $4.92 billion, a PE ratio of -353.38 and a beta of 0.83.

Mirion Technologies (NYSE:MIR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Mirion Technologies had a negative net margin of 1.16% and a positive return on equity of 6.07%. The business had revenue of $202.00 million during the quarter, compared to analysts' expectations of $199.34 million. During the same quarter last year, the company earned $0.06 earnings per share. The firm's revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Mirion Technologies, Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Mirion Technologies

In related news, Director Lawrence D. Kingsley sold 500,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $17.94, for a total value of $8,970,000.00. Following the completion of the sale, the director owned 61,287 shares in the company, valued at approximately $1,099,488.78. This trade represents a 89.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup increased their target price on shares of Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday. B. Riley decreased their price target on shares of Mirion Technologies from $19.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird upped their price target on shares of Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $21.00.

Mirion Technologies Company Profile

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.