Bornite Capital Management LP Sells 52,700 Shares of Mirion Technologies, Inc. (NYSE:MIR)

Key Points

• Bornite Capital Management LP has reduced its stake in Mirion Technologies by 2.5%, selling 52,700 shares and retaining 2,064,300 shares, representing 7.7% of its portfolio.
• Mirion Technologies reported an EPS of $0.11, surpassing expectations by $0.01, and its revenue for the quarter was $222.90 million, a 7.6% increase year-over-year.
• According to investment analysis, the company has an average rating of "Buy" with several analysts raising their price targets, indicating positive sentiment about its market performance.

Bornite Capital Management LP decreased its position in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,064,300 shares of the company's stock after selling 52,700 shares during the quarter. Mirion Technologies makes up approximately 7.7% of Bornite Capital Management LP's portfolio, making the stock its 2nd biggest position. Bornite Capital Management LP owned 0.89% of Mirion Technologies worth $29,932,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Xponance Inc. lifted its holdings in Mirion Technologies by 5.7% during the 1st quarter. Xponance Inc. now owns 15,793 shares of the company's stock worth $229,000 after buying an additional 851 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Mirion Technologies by 4.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,386 shares of the company's stock valued at $338,000 after buying an additional 865 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Mirion Technologies by 14.9% in the 1st quarter. Principal Financial Group Inc. now owns 14,057 shares of the company's stock valued at $204,000 after buying an additional 1,820 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Mirion Technologies by 10.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 21,611 shares of the company's stock valued at $377,000 after buying an additional 2,031 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Mirion Technologies by 31.0% in the 1st quarter. KBC Group NV now owns 10,485 shares of the company's stock valued at $152,000 after buying an additional 2,483 shares during the last quarter. Institutional investors and hedge funds own 78.51% of the company's stock.

Mirion Technologies Stock Performance

Shares of Mirion Technologies stock opened at $21.06 on Friday. Mirion Technologies, Inc. has a one year low of $9.11 and a one year high of $22.80. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 702.00 and a beta of 0.83. The business has a 50-day simple moving average of $20.79 and a 200 day simple moving average of $17.40. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.54 and a quick ratio of 1.69.

Mirion Technologies (NYSE:MIR - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. Mirion Technologies had a return on equity of 6.57% and a net margin of 1.12%. The business had revenue of $222.90 million during the quarter, compared to analyst estimates of $216.78 million. During the same period in the previous year, the company posted $0.10 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that Mirion Technologies, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen lowered Mirion Technologies from a "buy" rating to a "hold" rating in a research report on Saturday. B. Riley reiterated a "buy" rating and issued a $22.00 price target (up previously from $17.00) on shares of Mirion Technologies in a research report on Wednesday, July 23rd. Robert W. Baird upped their price target on Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Finally, Citigroup upped their price target on Mirion Technologies from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $22.25.

Insider Buying and Selling

In related news, Director Lawrence D. Kingsley sold 500,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was 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 $1,099,488.78. The trade was a 89.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.30% of the stock is owned by insiders.

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.

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