Envestnet Asset Management Inc. Has $2.58 Million Holdings in 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 shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 818.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,968 shares of the company's stock after purchasing an additional 158,582 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Mirion Technologies worth $2,581,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in Mirion Technologies by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 669,138 shares of the company's stock valued at $9,703,000 after purchasing an additional 7,709 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Mirion Technologies by 14.9% during the first quarter. Principal Financial Group Inc. now owns 14,057 shares of the company's stock worth $204,000 after buying an additional 1,820 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Mirion Technologies by 86.7% during the first quarter. Teacher Retirement System of Texas now owns 29,565 shares of the company's stock worth $429,000 after buying an additional 13,733 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Mirion Technologies during the first quarter worth $1,272,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Mirion Technologies during the first quarter worth $868,000. Institutional investors and hedge funds own 78.51% of the company's stock.

Wall Street Analysts Forecast Growth

MIR has been the subject of a number of research reports. Robert W. Baird lifted their target price on Mirion Technologies from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Citigroup lifted their target price on Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, B. Riley reaffirmed a "buy" rating and issued a $22.00 price target (up previously from $17.00) on shares of Mirion Technologies in a research note on Wednesday, July 23rd. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $22.25.

Mirion Technologies Price Performance

MIR stock traded down $0.04 during midday trading on Tuesday, reaching $22.27. The company had a trading volume of 1,827,508 shares, compared to its average volume of 2,391,540. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of -371.08 and a beta of 0.83. The stock has a 50 day moving average price of $20.30 and a 200-day moving average price of $17.10. Mirion Technologies, Inc. has a 1-year low of $9.11 and a 1-year high of $22.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.23 and a quick ratio of 1.69.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. Mirion Technologies had a positive return on equity of 6.07% and a negative net margin of 1.16%. The business had revenue of $202.00 million during the quarter, compared to the consensus estimate of $199.34 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Mirion Technologies's revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts expect that Mirion Technologies, Inc. will post 0.39 earnings per share for the current year.

Insider Transactions at Mirion Technologies

In other Mirion Technologies news, Director Lawrence D. Kingsley sold 500,000 shares of Mirion Technologies 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 transaction, the director owned 61,287 shares in the company, valued at $1,099,488.78. The trade was a 89.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by corporate 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.