Envestnet Asset Management Inc. Buys 158,582 Shares of Mirion Technologies, Inc. (NYSE:MIR)

Key Points

• Envestnet Asset Management Inc. increased its stake in Mirion Technologies by 818%, acquiring an additional 158,582 shares, bringing its total ownership to about 177,968 shares worth $2.58 million.
• Mirion Technologies reported a quarterly earnings per share (EPS) of $0.10, surpassing analyst estimates of $0.08, with a revenue of $202 million for the quarter, up 4.9% year-over-year.
• Several analysts have raised their target stock prices for Mirion Technologies, with Citigroup increasing theirs from $23 to $24, emphasizing a generally positive outlook on the stock's performance.

Envestnet Asset Management Inc. raised its holdings in Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 818.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 177,968 shares of the company's stock after purchasing an additional 158,582 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Mirion Technologies worth $2,581,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Mirion Technologies by 2,310.3% in the 1st quarter. GAMMA Investing LLC now owns 7,279 shares of the company's stock worth $106,000 after acquiring an additional 6,977 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Mirion Technologies by 162.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,649 shares of the company's stock valued at $116,000 after buying an additional 4,120 shares during the period. KBC Group NV lifted its position in shares of Mirion Technologies by 31.0% during the first quarter. KBC Group NV now owns 10,485 shares of the company's stock worth $152,000 after acquiring an additional 2,483 shares in the last quarter. Corient Private Wealth LLC bought a new position in shares of Mirion Technologies in the fourth quarter worth $187,000. Finally, Principal Financial Group Inc. increased its stake in Mirion Technologies by 14.9% in the first quarter. Principal Financial Group Inc. now owns 14,057 shares of the company's stock valued at $204,000 after acquiring an additional 1,820 shares during the last quarter. Institutional investors and hedge funds own 78.51% of the company's stock.

Insider Activity at Mirion Technologies

In related news, Director Lawrence D. Kingsley sold 500,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $17.94, for a total transaction of $8,970,000.00. Following the completion of the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Robert W. Baird raised their price target on shares of Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Finally, B. Riley reaffirmed 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, July 23rd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $22.25.

Mirion Technologies Price Performance

MIR traded down $2.51 during midday trading on Friday, hitting $19.84. 6,337,226 shares of the company traded hands, compared to its average volume of 2,515,529. The business has a 50 day simple moving average of $20.57 and a two-hundred day simple moving average of $17.21. The company has a current ratio of 2.23, a quick ratio of 1.69 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of -329.50 and a beta of 0.83. 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 data on Thursday, July 31st. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $222.90 million during the quarter, compared to analysts' expectations of $216.78 million. Mirion Technologies had a negative net margin of 1.16% and a positive return on equity of 6.07%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. On average, equities analysts forecast that Mirion Technologies, Inc. will post 0.39 earnings per share for the current fiscal year.

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.