Conestoga Capital Advisors LLC Sells 277,800 Shares of Mirion Technologies, Inc. $MIR

Key Points

• Conestoga Capital Advisors cut its Mirion stake by 22.3%, selling 277,800 shares in the third quarter; it retained 970,261 shares, worth about $13.7 million.
• Mirion reported quarterly EPS of $0.12, in line with expectations, while revenue of $277.8 million topped estimates and rose 24.5% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $24.88, though some firms recently lowered their targets. The stock was reported down 6.1%.

Conestoga Capital Advisors LLC trimmed its stake in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 22.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 970,261 shares of the company's stock after selling 277,800 shares during the period. Conestoga Capital Advisors LLC owned approximately 0.39% of Mirion Technologies worth $13,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Mirion Technologies by 14.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,694,288 shares of the company's stock worth $87,240,000 after purchasing an additional 591,730 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Mirion Technologies by 47.4% during the 1st quarter. Bank of New York Mellon Corp now owns 4,536,732 shares of the company's stock valued at $84,338,000 after buying an additional 1,459,787 shares during the period. Maverick Capital Ltd. bought a new position in shares of Mirion Technologies during the 1st quarter valued at $49,261,000. Emerald Advisers LLC lifted its holdings in shares of Mirion Technologies by 21.5% during the 1st quarter. Emerald Advisers LLC now owns 1,381,574 shares of the company's stock valued at $25,683,000 after buying an additional 244,428 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Mirion Technologies by 2.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,059,030 shares of the company's stock worth $19,762,000 after buying an additional 28,800 shares during the last quarter. Institutional investors own 78.51% of the company's stock.

Mirion Technologies Trading Down 6.1%

Shares of MIR stock opened at $17.89 on Thursday. Mirion Technologies, Inc. has a 1 year low of $14.04 and a 1 year high of $28.81. The firm has a fifty day moving average price of $15.91 and a 200-day moving average price of $18.24. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.02 and a quick ratio of 2.49. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 39.69 and a beta of 1.07.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. Mirion Technologies had a return on equity of 6.82% and a net margin of 2.69%. The firm had revenue of $277.80 million during the quarter, compared to analyst estimates of $275.35 million. During the same period in the prior year, the business posted $0.01 EPS. Mirion Technologies's revenue was up 24.5% on a year-over-year basis. As a group, equities analysts predict that Mirion Technologies, Inc. will post 0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. B. Riley Financial reaffirmed a "buy" rating and issued a $25.00 price objective (down from $27.00) on shares of Mirion Technologies in a report on Thursday, October 29th. The Goldman Sachs Group reissued a "buy" rating and issued a $23.00 target price on shares of Mirion Technologies in a research report on Wednesday, July 29th. Citigroup cut their price target on Mirion Technologies from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Weiss Ratings downgraded Mirion Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, October 30th. Finally, Jefferies Financial Group began coverage on shares of Mirion Technologies in a research report on Thursday, September 3rd. They set a "buy" rating and a $20.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.88.

Mirion Technologies Company Profile

Mirion Technologies, Inc develops, manufactures and supplies radiation detection, measurement and analysis technologies. Its products are designed to detect and measure ionizing radiation, monitor exposure and contamination, and support the safe management of radioactive materials and environments.

The company serves a range of end markets, including nuclear power, healthcare, defense and national security, scientific research, industrial operations and laboratories. Its offerings include radiation detectors, dosimetry systems, spectroscopy and monitoring equipment, radiation safety software, and related services.

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