Louisiana State Employees Retirement System Takes $2.02 Million Position in Mirion Technologies, Inc. $MIR

Key Points

• Louisiana State Employees Retirement System opened a new position in Mirion Technologies, buying 108,500 shares worth about $2.02 million in the first quarter.
• Mirion’s latest quarter beat expectations, with EPS of $0.10 versus $0.09 expected and revenue of $257.6 million, up 27.5% year over year.
• Wall Street remains generally positive on the stock, with a Moderate Buy consensus and an average target price of $27.12, though one analyst recently downgraded the shares and an insider sold stock in May.

Louisiana State Employees Retirement System bought a new position in Mirion Technologies, Inc. (NYSE:MIR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 108,500 shares of the company's stock, valued at approximately $2,017,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisory Services Network LLC bought a new stake in Mirion Technologies in the third quarter worth $25,000. UMB Bank n.a. raised its stake in shares of Mirion Technologies by 175.4% in the fourth quarter. UMB Bank n.a. now owns 1,344 shares of the company's stock valued at $31,000 after acquiring an additional 856 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Mirion Technologies by 470.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock valued at $35,000 after acquiring an additional 1,354 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Mirion Technologies by 58.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,709 shares of the company's stock worth $40,000 after acquiring an additional 631 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of Mirion Technologies by 78.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,018 shares of the company's stock worth $47,000 after purchasing an additional 887 shares during the period. Hedge funds and other institutional investors own 78.51% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MIR. Weiss Ratings downgraded shares of Mirion Technologies from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, May 4th. Robert W. Baird dropped their target price on Mirion Technologies from $29.00 to $26.00 and set an "outperform" rating for the company in a research report on Monday, March 30th. Morgan Stanley cut their target price on Mirion Technologies from $29.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 11th. Citigroup reduced their price target on Mirion Technologies from $29.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Finally, Melius Research raised Mirion Technologies to a "strong-buy" rating in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.12.

Mirion Technologies Trading Up 2.9%

Shares of MIR opened at $17.96 on Wednesday. Mirion Technologies, Inc. has a 1-year low of $15.58 and a 1-year high of $30.28. The company has a 50-day moving average of $18.29 and a 200 day moving average of $20.95. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 179.62 and a beta of 1.03. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.19 and a quick ratio of 2.63.

Mirion Technologies (NYSE:MIR - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The business had revenue of $257.60 million for the quarter, compared to the consensus estimate of $244.78 million. Mirion Technologies had a net margin of 2.56% and a return on equity of 6.44%. The company's revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. Mirion Technologies has set its FY 2026 guidance at 0.480-0.550 EPS. On average, research analysts expect that Mirion Technologies, Inc. will post 0.51 EPS for the current year.

Insider Activity

In related news, CAO Christopher A. Moore sold 8,400 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $19.64, for a total value of $164,976.00. Following the transaction, the chief accounting officer owned 22,157 shares of the company's stock, valued at $435,163.48. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.20% of the company's stock.

Mirion Technologies Company Profile

Mirion Technologies Inc NYSE: MIR is a leading global provider of radiation detection, measurement and monitoring solutions. The company's portfolio includes instrumentation, software and service offerings designed to detect, quantify and manage radiation in nuclear power, oil and gas, defense and homeland security, medical imaging and diagnostic applications. Mirion's product suite spans personal and environmental dosimetry, area monitors, digital imaging detectors and turnkey solutions for decommissioning and environmental remediation projects.

Mirion traces its origins to the combination of several established radiation measurement businesses, including the former Canberra nuclear instrumentation division, and has been supported by private equity investors before completing its initial public offering on the New York Stock Exchange in 2023.

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