Mirion Technologies, Inc. $MIR Shares Bought by Legato Capital Management LLC

Key Points

• Legato Capital Management increased its Mirion Technologies stake by 47% in the fourth quarter, buying 88,464 more shares and bringing its total to 276,501 shares worth about $6.48 million.
• Institutional ownership remains heavy, with several large funds adding positions, and 78.51% of Mirion’s stock is held by institutional investors and hedge funds.
• Mirion recently beat quarterly expectations, reporting $0.10 EPS on revenue of $257.6 million, while analysts currently rate the stock a Moderate Buy with an average price target of $27.13.

Legato Capital Management LLC raised its position in Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 47.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 276,501 shares of the company's stock after buying an additional 88,464 shares during the quarter. Mirion Technologies comprises about 0.6% of Legato Capital Management LLC's holdings, making the stock its 22nd largest position. Legato Capital Management LLC owned approximately 0.11% of Mirion Technologies worth $6,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Mirion Technologies by 28.0% during the 3rd quarter. Vanguard Group Inc. now owns 30,418,327 shares of the company's stock worth $707,530,000 after purchasing an additional 6,651,735 shares during the period. Tudor Investment Corp ET AL grew its stake in shares of Mirion Technologies by 174,900.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 17,500,000 shares of the company's stock worth $407,050,000 after purchasing an additional 17,490,000 shares during the period. Cooperman Leon G grew its stake in shares of Mirion Technologies by 17.7% during the 3rd quarter. Cooperman Leon G now owns 8,383,441 shares of the company's stock worth $194,999,000 after purchasing an additional 1,258,441 shares during the period. UBS Group AG grew its stake in shares of Mirion Technologies by 1.2% during the 4th quarter. UBS Group AG now owns 4,852,587 shares of the company's stock worth $113,648,000 after purchasing an additional 55,754 shares during the period. Finally, Two Creeks Capital Management LP acquired a new position in shares of Mirion Technologies during the 3rd quarter worth $83,707,000. 78.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MIR has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of 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. The Goldman Sachs Group lowered their price target on shares of Mirion Technologies from $33.00 to $29.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. JPMorgan Chase & Co. lowered their price target on shares of Mirion Technologies from $30.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, March 26th. Melius Research raised shares of Mirion Technologies to a "strong-buy" rating in a research note on Monday, March 23rd. Finally, Citigroup lowered their price target on shares of Mirion Technologies from $29.00 to $28.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.13.

Insider Buying and Selling

In related news, CAO Christopher A. Moore sold 8,400 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $19.64, for a total value of $164,976.00. Following the sale, the chief accounting officer directly owned 22,157 shares of the company's stock, valued at approximately $435,163.48. This represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.30% of the company's stock.

Mirion Technologies Price Performance

Shares of NYSE MIR opened at $18.40 on Friday. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 183.98 and a beta of 1.07. Mirion Technologies, Inc. has a 52 week low of $16.84 and a 52 week high of $30.28. The company's 50-day moving average price is $19.04 and its 200 day moving average price is $22.50. The company has a current ratio of 3.19, a quick ratio of 2.63 and a debt-to-equity ratio of 0.63.

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

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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