Bank of New York Mellon Corp Increases Position in Mirion Technologies, Inc. $MIR

Key Points

• Bank of New York Mellon increased its Mirion Technologies stake by 126.1% in Q4, ending with 3.08 million shares valued at about $72.1 million.
• Mirion reported quarterly earnings of $0.10 per share, topping estimates by a penny, while revenue rose 27.5% year over year to $257.6 million.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and an average price target of $27.13, though Weiss Ratings recently cut the stock to Sell.

Bank of New York Mellon Corp boosted its holdings in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 126.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,076,945 shares of the company's stock after purchasing an additional 1,716,020 shares during the period. Bank of New York Mellon Corp owned about 1.21% of Mirion Technologies worth $72,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Mirion Technologies by 3.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,248,506 shares of the company's stock worth $122,920,000 after acquiring an additional 193,914 shares in the last quarter. SCP Investment LP purchased a new stake in shares of Mirion Technologies during the 4th quarter worth about $422,000. Natixis Advisors LLC boosted its stake in shares of Mirion Technologies by 782.9% during the 4th quarter. Natixis Advisors LLC now owns 124,448 shares of the company's stock worth $2,915,000 after acquiring an additional 110,352 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Mirion Technologies by 314.9% during the 4th quarter. BNP Paribas Financial Markets now owns 904,229 shares of the company's stock worth $21,177,000 after acquiring an additional 686,278 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Mirion Technologies during the 4th quarter worth about $2,157,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Mirion Technologies Stock Performance

Shares of MIR stock opened at $16.98 on Wednesday. The company has a quick ratio of 2.63, a current ratio of 3.19 and a debt-to-equity ratio of 0.63. Mirion Technologies, Inc. has a 52 week low of $16.43 and a 52 week high of $30.28. The stock has a market capitalization of $4.25 billion, a PE ratio of 169.81 and a beta of 1.03. The firm has a 50 day moving average of $18.73 and a two-hundred day moving average of $21.73.

Mirion Technologies (NYSE:MIR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. Mirion Technologies had a net margin of 2.56% and a return on equity of 6.44%. The business had revenue of $257.60 million for the quarter, compared to analyst estimates of $244.78 million. During the same period last year, the business earned $0.10 EPS. The company's revenue was up 27.5% on a year-over-year basis. Mirion Technologies has set its FY 2026 guidance at 0.480-0.550 EPS. On average, research analysts predict that Mirion Technologies, Inc. will post 0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MIR shares. Weiss Ratings lowered shares of Mirion Technologies from a "hold (c)" rating to a "sell (d+)" rating in a research note on Monday, May 4th. The Goldman Sachs Group reduced their price target on shares of Mirion Technologies from $33.00 to $29.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. Morgan Stanley reduced their price target on shares of Mirion Technologies from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 11th. Melius Research upgraded shares of Mirion Technologies to a "strong-buy" rating in a report on Monday, March 23rd. Finally, Citigroup cut their price objective on shares of Mirion Technologies from $29.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.13.

Insider Buying and Selling at Mirion Technologies

In other news, CAO Christopher A. Moore sold 8,400 shares of the firm's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $19.64, for a total value of $164,976.00. Following the sale, the chief accounting officer directly owned 22,157 shares in the company, valued at approximately $435,163.48. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company's stock.

Mirion Technologies Company Profile

Mirion Technologies Inc NYSE: MIR is a leading global provider of radiation detection, measurement and monitoring solutions. The company's portfolio includes instrumentation, software and service offerings designed to detect, quantify and manage radiation in nuclear power, oil and gas, defense and homeland security, medical imaging and diagnostic applications. Mirion's product suite spans personal and environmental dosimetry, area monitors, digital imaging detectors and turnkey solutions for decommissioning and environmental remediation projects.

Mirion traces its origins to the combination of several established radiation measurement businesses, including the former Canberra nuclear instrumentation division, and has been supported by private equity investors before completing its initial public offering on the New York Stock Exchange in 2023.

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