Mirion Technologies, Inc. $MIR Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC has reduced its investment in Mirion Technologies by 17.3%, now holding 2,567,660 shares valued at approximately $37.23 million.
• Several institutional investors, including Deutsche Bank AG, have recently increased their stakes in Mirion Technologies, reflecting a trend of heightened interest from hedge funds.
• Mirion Technologies' most recent financial results showcased a 7.6% year-over-year revenue growth, with earnings per share of $0.11, surpassing analyst expectations.

Millennium Management LLC reduced its stake in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 17.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,567,660 shares of the company's stock after selling 537,714 shares during the quarter. Millennium Management LLC owned approximately 1.11% of Mirion Technologies worth $37,231,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MIR. AlphaQuest LLC lifted its stake in shares of Mirion Technologies by 360,400.0% during the 1st quarter. AlphaQuest LLC now owns 3,605 shares of the company's stock worth $52,000 after purchasing an additional 3,604 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Mirion Technologies during the 1st quarter worth $68,000. Smartleaf Asset Management LLC lifted its stake in shares of Mirion Technologies by 582.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,205 shares of the company's stock worth $76,000 after purchasing an additional 4,442 shares during the last quarter. CWM LLC lifted its stake in shares of Mirion Technologies by 1,026.3% during the 1st quarter. CWM LLC now owns 6,431 shares of the company's stock worth $93,000 after purchasing an additional 5,860 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Mirion Technologies by 2,310.3% during the 1st quarter. GAMMA Investing LLC now owns 7,279 shares of the company's stock worth $106,000 after purchasing an additional 6,977 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

Mirion Technologies Stock Performance

Shares of MIR stock traded up $0.61 during mid-day trading on Monday, reaching $23.34. The stock had a trading volume of 716,646 shares, compared to its average volume of 2,755,843. The business's fifty day moving average is $21.22 and its 200-day moving average is $18.29. The company has a current ratio of 2.54, a quick ratio of 2.01 and a debt-to-equity ratio of 0.55. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 777.00 and a beta of 0.82. Mirion Technologies, Inc. has a 1-year low of $9.58 and a 1-year high of $23.58.

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 business had revenue of $222.90 million for the quarter, compared to analyst estimates of $216.78 million. Mirion Technologies had a return on equity of 6.57% and a net margin of 1.12%.The company's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. On average, research analysts forecast that Mirion Technologies, Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on MIR. Wall Street Zen cut Mirion Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup increased their price target on Mirion Technologies from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Northland Capmk upgraded Mirion Technologies to a "strong-buy" rating in a research note on Sunday, August 24th. Robert W. Baird increased their price target on Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, B. Riley reiterated a "buy" rating and issued a $22.00 price target (up from $17.00) on shares of Mirion Technologies in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $23.00.

Insider Buying and Selling at Mirion Technologies

In other news, CEO Thomas D. Logan sold 325,000 shares of the stock in a transaction dated 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 directly owned 3,742,305 shares of the company's stock, valued at approximately $79,748,519.55. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.20% of the company's stock.

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.