Charles Schwab Investment Management Inc. Raises Position in Mirion Technologies, Inc. $MIR

Key Points

• Charles Schwab Investment Management Inc. increased its position in Mirion Technologies by 2.6%, holding approximately 1.6 million shares valued at around $23.80 million.
• Several institutional investors significantly expanded their stakes in Mirion, with CWM LLC increasing its holdings by over 1,000% in the first quarter of 2023 alone.
• Analysts have a consensus rating of "Buy" for Mirion Technologies, with a target price averaging $22.25 following recent upgrades from firms like Citigroup and B. Riley.

Charles Schwab Investment Management Inc. increased its holdings in Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 2.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,641,075 shares of the company's stock after buying an additional 41,864 shares during the period. Charles Schwab Investment Management Inc. owned 0.71% of Mirion Technologies worth $23,796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Xponance Inc. raised its position in Mirion Technologies by 5.7% during the first quarter. Xponance Inc. now owns 15,793 shares of the company's stock valued at $229,000 after purchasing an additional 851 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Mirion Technologies by 4.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,386 shares of the company's stock valued at $338,000 after purchasing an additional 865 shares in the last quarter. Principal Financial Group Inc. raised its position in Mirion Technologies by 14.9% during the first quarter. Principal Financial Group Inc. now owns 14,057 shares of the company's stock valued at $204,000 after purchasing an additional 1,820 shares in the last quarter. KBC Group NV raised its position in Mirion Technologies by 31.0% during the first quarter. KBC Group NV now owns 10,485 shares of the company's stock valued at $152,000 after purchasing an additional 2,483 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Mirion Technologies by 4.7% during the first quarter. Arizona State Retirement System now owns 58,214 shares of the company's stock valued at $844,000 after purchasing an additional 2,608 shares in the last quarter. Hedge funds and other institutional investors own 78.51% of the company's stock.

Mirion Technologies Trading Up 1.3%

Shares of NYSE MIR traded up $0.27 during trading hours on Tuesday, hitting $20.98. The company's stock had a trading volume of 3,021,654 shares, compared to its average volume of 2,890,429. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.01 and a current ratio of 2.54. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 699.17 and a beta of 0.83. Mirion Technologies, Inc. has a 12 month low of $9.11 and a 12 month high of $22.80. The business has a 50-day simple moving average of $21.01 and a 200-day simple moving average of $17.79.

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

Analysts Set New Price Targets

MIR has been the topic of a number of research reports. Northland Securities initiated coverage on Mirion Technologies in a research report on Monday. They set an "outperform" rating and a $26.00 price target on the stock. Northland Capmk upgraded Mirion Technologies to a "strong-buy" rating in a research report on Sunday. B. Riley restated a "buy" rating and set 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 raised 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, Wall Street Zen downgraded Mirion Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $23.00.

Insider Activity

In related news, CEO Thomas D. Logan sold 325,000 shares of the firm's stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.20% 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.