Lord Abbett & CO. LLC Buys 31,130 Shares of Mirion Technologies, Inc. $MIR

Key Points

• Lord Abbett & CO. LLC raised its stake in Mirion Technologies by 1.3%, now owning approximately 1.03% of the company, valued at $34.8 million, with other institutional investors also increasing their holdings.
• Mirion Technologies has received mixed ratings from analysts, with a consensus rating of "Buy" and a price target of $22.25, following price objective increases from multiple firms.
• The company's latest quarterly earnings show a revenue increase of 7.6% year-over-year, reporting $222.9 million and an EPS of $0.11, exceeding analyst expectations.

Lord Abbett & CO. LLC grew its stake in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,399,864 shares of the company's stock after acquiring an additional 31,130 shares during the period. Lord Abbett & CO. LLC owned 1.03% of Mirion Technologies worth $34,798,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. CWM LLC increased its stake in shares of Mirion Technologies by 1,026.3% during the first 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 period. Tower Research Capital LLC TRC increased its position in Mirion Technologies by 162.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,649 shares of the company's stock worth $116,000 after buying an additional 4,120 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Mirion Technologies by 2,310.3% during the first quarter. GAMMA Investing LLC now owns 7,279 shares of the company's stock worth $106,000 after buying an additional 6,977 shares in the last quarter. KBC Group NV boosted its position in shares of Mirion Technologies by 31.0% in the first quarter. KBC Group NV now owns 10,485 shares of the company's stock valued at $152,000 after acquiring an additional 2,483 shares during the period. Finally, LPL Financial LLC acquired a new position in shares of Mirion Technologies in the fourth quarter valued at about $211,000. Institutional investors own 78.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MIR. Wall Street Zen cut shares of Mirion Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Robert W. Baird increased their price target on Mirion Technologies from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 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 note on Wednesday, July 23rd. Finally, Citigroup lifted their price objective on Mirion Technologies from $23.00 to $24.00 and gave the company a "buy" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.25.

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 dated Monday, August 11th. The stock was sold at an average price of $21.31, for a total transaction of $6,925,750.00. Following the sale, the chief executive officer directly owned 3,742,305 shares in the company, valued at approximately $79,748,519.55. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.20% of the company's stock.

Mirion Technologies Price Performance

NYSE MIR traded up $0.0010 on Wednesday, hitting $19.7910. 471,342 shares of the company's stock were exchanged, compared to its average volume of 2,521,398. The stock has a 50-day moving average of $20.97 and a 200-day moving average of $17.63. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 660.67 and a beta of 0.83. Mirion Technologies, Inc. has a 52 week low of $9.11 and a 52 week high of $22.80. The company has a current ratio of 2.54, a quick ratio of 2.01 and a debt-to-equity ratio of 0.55.

Mirion Technologies (NYSE:MIR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. Mirion Technologies had a net margin of 1.12% and a return on equity of 6.57%. The business had revenue of $222.90 million during the quarter, compared to analysts' expectations of $216.78 million. During the same period in the prior year, the company earned $0.10 EPS. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. Analysts expect that Mirion Technologies, Inc. will post 0.39 earnings per share for the current 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.