Raymond James Financial Inc. Acquires 734,238 Shares of Mirion Technologies, Inc. $MIR

Key Points

• Raymond James Financial Inc. increased its ownership in Mirion Technologies by 74.6% in Q1, acquiring 734,238 shares and bringing its total to 1,717,848 shares valued at approximately $24.9 million.
• Several institutional investors significantly boosted their holdings in Mirion Technologies, with CWM LLC increasing its stake by 1,026.3% in the same quarter.
• Wall Street analysts show a mixed outlook, with reports indicating a range of ratings from a downgrade to "hold" by Wall Street Zen and an "outperform" rating with target price increases from firms like Robert W. Baird and Citigroup.

Raymond James Financial Inc. grew its position in Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 74.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,717,848 shares of the company's stock after purchasing an additional 734,238 shares during the period. Raymond James Financial Inc. owned about 0.74% of Mirion Technologies worth $24,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC raised its holdings in shares of Mirion Technologies by 1,026.3% in the first quarter. CWM LLC now owns 6,431 shares of the company's stock valued at $93,000 after purchasing an additional 5,860 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Mirion Technologies by 2,310.3% in the first quarter. GAMMA Investing LLC now owns 7,279 shares of the company's stock valued at $106,000 after purchasing an additional 6,977 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Mirion Technologies by 162.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,649 shares of the company's stock valued at $116,000 after purchasing an additional 4,120 shares during the last quarter. KBC Group NV raised its holdings 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 purchasing an additional 2,483 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Mirion Technologies by 14.9% in the first quarter. Principal Financial Group Inc. now owns 14,057 shares of the company's stock valued at $204,000 after purchasing an additional 1,820 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company's stock.

Wall Street Analysts Forecast Growth

MIR has been the subject of several analyst reports. Wall Street Zen downgraded shares of Mirion Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Robert W. Baird raised their price objective on shares of Mirion Technologies from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Citigroup boosted their target price on shares of Mirion Technologies from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Northland Securities started coverage on shares of Mirion Technologies in a research report on Monday. They set an "outperform" rating and a $26.00 target price for the company. Finally, B. Riley reissued a "buy" rating and set a $22.00 target price (up from $17.00) on shares of Mirion Technologies in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, Mirion Technologies currently has an average rating of "Buy" and an average target price of $23.00.

Mirion Technologies Price Performance

MIR opened at $20.69 on Tuesday. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 689.67 and a beta of 0.83. The company has a quick ratio of 2.01, a current ratio of 2.54 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $20.99 and a 200-day moving average price of $17.77. Mirion Technologies, Inc. has a twelve month low of $9.11 and a twelve month high of $22.80.

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

Insider Buying and Selling at Mirion Technologies

In other news, CEO Thomas D. Logan sold 325,000 shares of Mirion Technologies stock in a transaction dated Monday, August 11th. The shares were 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 in the company, valued at $79,748,519.55. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by insiders.

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.

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