Invesco Ltd. Reduces Stock Holdings in Mirion Technologies, Inc. $MIR

Key Points

• Invesco Ltd. has reduced its stake in Mirion Technologies by 34.4%, now owning approximately $4.67 million worth of the company's stock.
• Mirion Technologies received multiple analyst upgrades, with a current consensus rating of "Buy" and a price target averaging $23.00.
• Insider activity includes CEO Thomas D. Logan selling 325,000 shares for nearly $6.93 million, representing a 7.99% decrease in his holdings.

Invesco Ltd. cut its holdings in Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 34.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,838 shares of the company's stock after selling 168,976 shares during the period. Invesco Ltd. owned approximately 0.14% of Mirion Technologies worth $4,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Xponance Inc. raised its position in shares of Mirion Technologies by 5.7% in the 1st quarter. Xponance Inc. now owns 15,793 shares of the company's stock worth $229,000 after acquiring an additional 851 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Mirion Technologies by 4.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,386 shares of the company's stock worth $338,000 after acquiring an additional 865 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Mirion Technologies by 14.9% in the 1st quarter. Principal Financial Group Inc. now owns 14,057 shares of the company's stock worth $204,000 after acquiring an additional 1,820 shares in the last quarter. KBC Group NV raised its position in shares of Mirion Technologies by 31.0% in the 1st 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. Finally, Arizona State Retirement System raised its position in shares of Mirion Technologies by 4.7% in the 1st quarter. Arizona State Retirement System now owns 58,214 shares of the company's stock worth $844,000 after acquiring an additional 2,608 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Mirion Technologies

In other news, CEO Thomas D. Logan sold 325,000 shares of the business's 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 transaction, the chief executive officer owned 3,742,305 shares in the company, valued at $79,748,519.55. The trade was a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird boosted their target price on Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen lowered Mirion Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Northland Securities assumed coverage on Mirion Technologies in a research report on Monday, August 25th. They issued an "outperform" rating and a $26.00 target price for the company. Northland Capmk raised Mirion Technologies to a "strong-buy" rating in a research report on Sunday, August 24th. Finally, Citigroup boosted their target price on Mirion Technologies from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $23.00.

Mirion Technologies Stock Up 0.5%

MIR stock traded up $0.10 during mid-day trading on Tuesday, reaching $20.60. 1,404,766 shares of the company traded hands, compared to its average volume of 2,006,809. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 686.80 and a beta of 0.82. The company has a quick ratio of 2.01, a current ratio of 2.54 and a debt-to-equity ratio of 0.55. Mirion Technologies, Inc. has a fifty-two week low of $9.11 and a fifty-two week high of $22.80. The firm's 50 day moving average price is $21.07 and its 200 day moving average price is $17.94.

Mirion Technologies (NYSE:MIR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $222.90 million during the quarter, compared to the consensus estimate of $216.78 million. Mirion Technologies had a return on equity of 6.57% and a net margin of 1.12%.The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. As a group, equities research analysts predict 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.