Graham Capital Management L.P. Reduces Position in Mirion Technologies, Inc. $MIR

Key Points

• Graham Capital Management L.P. reduced its holdings in Mirion Technologies by 48.8%, selling 52,594 shares and leaving it with 55,154 shares valued at approximately $800,000.
• Mirion Technologies' stock recently opened at $21.00, having experienced a 1-year low of $9.11 and a high of $22.80, with ongoing institutional ownership at 78.51%.
• Research analysts have raised their price targets for Mirion Technologies, with an average rating of "Buy" and a target price of $23.00 based on recent reports from firms including Citigroup and Robert W. Baird.

Graham Capital Management L.P. decreased its position in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 48.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,154 shares of the company's stock after selling 52,594 shares during the quarter. Graham Capital Management L.P.'s holdings in Mirion Technologies were worth $800,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MIR. Brown Advisory Inc. lifted its position in shares of Mirion Technologies by 45.9% in the first quarter. Brown Advisory Inc. now owns 5,560,461 shares of the company's stock valued at $80,627,000 after acquiring an additional 1,748,437 shares in the last quarter. Millennium Management LLC raised its stake in Mirion Technologies by 100.6% during the 4th quarter. Millennium Management LLC now owns 3,105,374 shares of the company's stock valued at $54,189,000 after purchasing an additional 1,557,077 shares during the period. Nuveen LLC purchased a new position in Mirion Technologies in the 1st quarter worth approximately $20,132,000. American Century Companies Inc. boosted its stake in Mirion Technologies by 43.9% in the 1st quarter. American Century Companies Inc. now owns 3,432,814 shares of the company's stock worth $49,776,000 after purchasing an additional 1,047,781 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Mirion Technologies by 3,556.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,004,697 shares of the company's stock worth $14,568,000 after purchasing an additional 977,221 shares during the period. Hedge funds and other institutional investors own 78.51% of the company's stock.

Analyst Upgrades and Downgrades

MIR has been the topic of several recent analyst reports. Northland Securities began coverage on shares of Mirion Technologies in a research report on Monday, August 25th. They set an "outperform" rating and a $26.00 price objective on the stock. Citigroup lifted their price target on shares of Mirion Technologies from $23.00 to $24.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wall Street Zen cut shares of Mirion Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. B. Riley restated a "buy" rating and set a $22.00 price objective (up previously from $17.00) on shares of Mirion Technologies in a research report on Wednesday, July 23rd. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $23.00.

Insider Activity at Mirion Technologies

In other news, CEO Thomas D. Logan sold 325,000 shares of Mirion Technologies stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 3,742,305 shares in the company, valued at approximately $79,748,519.55. The trade was a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.30% of the company's stock.

Mirion Technologies Price Performance

Shares of NYSE:MIR traded down $0.79 on Wednesday, reaching $21.31. The company's stock had a trading volume of 4,710,321 shares, compared to its average volume of 4,191,471. The company has a 50-day simple moving average of $21.14 and a 200 day simple moving average of $18.15. Mirion Technologies, Inc. has a 52-week low of $9.11 and a 52-week high of $23.58. 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 company has a market cap of $4.99 billion, a P/E ratio of 710.43 and a beta of 0.82.

Mirion Technologies (NYSE:MIR - Get Free Report) last announced its quarterly 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. The firm had revenue of $222.90 million during the quarter, compared to the consensus estimate of $216.78 million. Mirion Technologies had a net margin of 1.12% and a return on equity of 6.57%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. As a group, equities research analysts anticipate that Mirion Technologies, Inc. will post 0.39 EPS for the current fiscal year.

Mirion Technologies 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.