Allspring Global Investments Holdings LLC Trims Holdings in Mirion Technologies, Inc. $MIR

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Mirion Technologies by 6.7%, owning 556,362 shares after selling 39,738 shares in the second quarter.
• CEO Thomas D. Logan sold 325,000 shares of Mirion Technologies at an average price of $21.31, representing a 7.99% decrease in his ownership.
• Analysts have mixed ratings for Mirion Technologies with a consensus rating of "Buy" and a target price of $26.33, while some firms have raised their price targets recently.

Allspring Global Investments Holdings LLC reduced its holdings in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 556,362 shares of the company's stock after selling 39,738 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.24% of Mirion Technologies worth $11,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MIR. Brown Advisory Inc. boosted its stake in shares of Mirion Technologies by 45.9% during the 1st quarter. Brown Advisory Inc. now owns 5,560,461 shares of the company's stock valued at $80,627,000 after buying an additional 1,748,437 shares during the last quarter. Nuveen LLC purchased a new position in shares of Mirion Technologies during the 1st quarter valued at approximately $20,132,000. American Century Companies Inc. boosted its stake in shares of Mirion Technologies by 43.9% during the 1st quarter. American Century Companies Inc. now owns 3,432,814 shares of the company's stock valued at $49,776,000 after buying an additional 1,047,781 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Mirion Technologies by 3,556.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,004,697 shares of the company's stock valued at $14,568,000 after buying an additional 977,221 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its stake in shares of Mirion Technologies by 37.1% during the 1st quarter. Artemis Investment Management LLP now owns 2,998,435 shares of the company's stock valued at $43,477,000 after buying an additional 811,882 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mirion Technologies news, CEO Thomas D. Logan sold 325,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $21.31, for a total value of $6,925,750.00. Following the sale, the chief executive officer directly owned 3,742,305 shares of the company's stock, valued at $79,748,519.55. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is owned by corporate insiders.

Mirion Technologies Price Performance

Shares of NYSE MIR opened at $24.19 on Friday. Mirion Technologies, Inc. has a 1-year low of $12.00 and a 1-year high of $25.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.54 and a quick ratio of 2.01. The business's fifty day moving average price is $22.36 and its two-hundred day moving average price is $19.80. The firm has a market capitalization of $5.66 billion, a PE ratio of 806.33 and a beta of 0.88.

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

Analyst Ratings Changes

Several equities analysts have recently commented on MIR shares. Wall Street Zen cut Mirion Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. The Goldman Sachs Group upped their price target on Mirion Technologies from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Northland Securities upped their price target on Mirion Technologies from $26.00 to $29.00 and gave the company an "outperform" rating in a research report on Monday, September 29th. JPMorgan Chase & Co. assumed coverage on Mirion Technologies in a research report on Friday, September 26th. They set an "overweight" rating and a $28.00 price target on the stock. Finally, Citigroup upped their price target on Mirion Technologies from $23.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $26.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.