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 shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 326,580 shares of the company's stock, valued at approximately $4,892,000. Mirion Technologies comprises approximately 2.7% of Bastion Asset Management Inc.'s investment portfolio, making the stock its 9th largest holding. Bastion Asset Management Inc. owned about 0.14% of Mirion Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its stake in 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 worth $73,550,000 after acquiring an additional 4,200,894 shares during the period. Brown Advisory Inc. acquired a new stake in Mirion Technologies during the fourth quarter worth about $66,520,000. Bornite Capital Management LP acquired a new stake in Mirion Technologies during the fourth quarter worth about $36,942,000. Millennium Management LLC raised its stake 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 acquiring an additional 1,557,077 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Mirion Technologies during the fourth quarter worth about $17,164,000. Institutional investors own 78.51% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup upped 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, July 14th. B. Riley restated a "buy" rating and issued a $22.00 target price (up previously from $17.00) on shares of Mirion Technologies in a research report on Wednesday. Finally, Robert W. Baird upped their target price on shares of Mirion Technologies from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus 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 company's stock in a transaction that occurred on 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 directly owned 61,287 shares of the company's stock, valued at approximately $1,099,488.78. This represents a 89.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.30% of the company's stock.

Mirion Technologies Trading Up 0.9%

Shares of MIR stock opened at $21.94 on Friday. The stock has a fifty day moving average of $20.20 and a two-hundred day moving average of $17.04. The firm has a market capitalization of $5.09 billion, a PE ratio of -365.72 and a beta of 0.83. Mirion Technologies, Inc. has a 1 year low of $9.11 and a 1 year high of $22.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.23.

Mirion Technologies (NYSE:MIR - Get Free Report) last issued 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 company had revenue of $202.00 million during the quarter, compared to analyst estimates of $199.34 million. Mirion Technologies had a negative net margin of 1.16% and a positive return on equity of 6.07%. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 EPS. As a group, research analysts expect that Mirion Technologies, Inc. will post 0.39 EPS for the current 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.

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