Bastion Asset Management Inc. Invests $4.89 Million in Mirion Technologies, Inc. (NYSE:MIR)

Key Points

• Bastion Asset Management Inc. has invested approximately $4.89 million in Mirion Technologies, Inc., acquiring 326,580 shares, which now makes up about 2.7% of its investment portfolio.
• Several large investors, including Arrowstreet Capital and Millennium Management, have significantly increased their stakes in Mirion Technologies during the fourth quarter, showcasing strong institutional interest with 78.51% of shares now owned by institutional investors.
• Analysts have set a consensus price target for Mirion Technologies at $22.25, with multiple firms upgrading their ratings, reflecting positive sentiment towards the stock's future performance.

Bastion Asset Management Inc. purchased a new position in Mirion Technologies, Inc. (NYSE:MIR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 326,580 shares of the company's stock, valued at approximately $4,892,000. Mirion Technologies makes up 2.7% of Bastion Asset Management Inc.'s investment portfolio, making the stock its 9th biggest holding. Bastion Asset Management Inc. owned 0.14% of Mirion Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Mirion Technologies by 29,948.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,214,921 shares of the company's stock valued at $73,550,000 after purchasing an additional 4,200,894 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of Mirion Technologies during the 4th quarter valued at about $66,520,000. Bornite Capital Management LP bought a new stake in Mirion Technologies during the 4th quarter valued at approximately $36,942,000. Millennium Management LLC boosted its stake in Mirion Technologies by 100.6% during the 4th quarter. Millennium Management LLC now owns 3,105,374 shares of the company's stock valued at $54,189,000 after purchasing an additional 1,557,077 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Mirion Technologies in the 4th quarter worth approximately $17,164,000. Institutional investors own 78.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MIR. Citigroup raised their target price on Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. B. Riley reissued a "buy" rating and issued a $22.00 target price (up from $17.00) on shares of Mirion Technologies in a research note on Wednesday, July 23rd. Finally, Robert W. Baird lifted their target price on Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Mirion Technologies currently has an average rating of "Buy" and an average price target of $22.25.

Insider Buying and Selling at Mirion Technologies

In other news, Director Lawrence D. Kingsley sold 500,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $17.94, for a total transaction of $8,970,000.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.20% of the company's stock.

Mirion Technologies Stock Up 1.5%

Shares of Mirion Technologies stock traded up $0.34 during trading on Wednesday, reaching $22.64. The stock had a trading volume of 1,546,265 shares, compared to its average volume of 2,454,664. The stock has a fifty day moving average price of $20.39 and a two-hundred day moving average price of $17.13. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of -377.25 and a beta of 0.83. The company has a current ratio of 2.23, a quick ratio of 1.69 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 $22.80.

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

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.