Northern Trust Corp Trims Holdings in Mirion Technologies, Inc. $MIR

Key Points

• Northern Trust Corp reduced its stake in Mirion Technologies by 3.4%, now holding approximately 1.97 million shares worth about $28.58 million.
• Despite the decline in Northern Trust's holdings, several institutional investors increased their investments in Mirion Technologies, indicating continued interest in the company.
• Mirion Technologies recently reported better-than-expected quarterly earnings of $0.11 per share, surpassing analyst estimates, and forecasted EPS of 0.480-0.520 for FY 2025.

Northern Trust Corp reduced its stake in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,971,182 shares of the company's stock after selling 70,407 shares during the period. Northern Trust Corp owned approximately 0.85% of Mirion Technologies worth $28,582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in Mirion Technologies by 2.8% in the fourth quarter. Janus Henderson Group PLC now owns 8,330,495 shares of the company's stock valued at $145,367,000 after acquiring an additional 229,718 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Mirion Technologies by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,363,954 shares of the company's stock worth $106,779,000 after purchasing an additional 178,260 shares during the last quarter. Brown Advisory Inc. raised its holdings in Mirion Technologies by 45.9% in the 1st quarter. Brown Advisory Inc. now owns 5,560,461 shares of the company's stock valued at $80,627,000 after acquiring an additional 1,748,437 shares during the last quarter. American Century Companies Inc. raised its holdings in Mirion Technologies by 43.9% in the 1st quarter. American Century Companies Inc. now owns 3,432,814 shares of the company's stock valued at $49,776,000 after acquiring an additional 1,047,781 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Mirion Technologies by 100.6% in the 4th quarter. Millennium Management LLC now owns 3,105,374 shares of the company's stock valued at $54,189,000 after acquiring an additional 1,557,077 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mirion Technologies 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 value of $6,925,750.00. Following the completion of the transaction, the chief executive officer owned 3,742,305 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MIR shares. B. Riley reaffirmed a "buy" rating and set a $22.00 price objective (up previously from $17.00) on shares of Mirion Technologies in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of Mirion Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Northland Securities started coverage on shares of Mirion Technologies in a research report on Monday, August 25th. They set an "outperform" rating and a $26.00 price objective for the company. Northland Capmk raised shares of Mirion Technologies to a "strong-buy" rating in a research report on Sunday, August 24th. Finally, Robert W. Baird lifted their price objective on shares of Mirion Technologies from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Two equities research 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 stock has a consensus rating of "Buy" and a consensus target price of $23.00.

Mirion Technologies Stock Up 0.7%

MIR traded up $0.14 during midday trading on Thursday, reaching $20.80. The company's stock had a trading volume of 484,302 shares, compared to its average volume of 2,486,024. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 692.53 and a beta of 0.82. 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, Inc. has a 1 year low of $9.11 and a 1 year high of $22.80. The stock's 50-day moving average is $21.06 and its 200-day moving average is $17.96.

Mirion Technologies (NYSE:MIR - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $222.90 million for the quarter, compared to analysts' expectations of $216.78 million. Mirion Technologies had a net margin of 1.12% and a return on equity of 6.57%. Mirion Technologies's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. As a group, research analysts expect that Mirion Technologies, Inc. will post 0.39 EPS for the current year.

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.