Royce & Associates LP Purchases 215,643 Shares of Mirion Technologies, Inc. (NYSE:MIR)

Key Points

• Royce & Associates LP increased its stake in Mirion Technologies by 47.6%, acquiring an additional 215,643 shares, bringing its total to 668,643 shares valued at approximately $9.7 million.
• Insider trading was notable as Director Lawrence D. Kingsley sold 500,000 shares for $8.97 million, resulting in an 89.08% decrease in his ownership of the stock.
• Analysts have raised price targets for Mirion Technologies, with B. Riley and Robert W. Baird setting targets at $22.00, up from previous estimates, reflecting a consensus "buy" rating for the stock.

Royce & Associates LP boosted its position in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 47.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 668,643 shares of the company's stock after acquiring an additional 215,643 shares during the period. Royce & Associates LP owned approximately 0.29% of Mirion Technologies worth $9,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Mirion Technologies during the first quarter valued at approximately $351,000. Jennison Associates LLC boosted its holdings in shares of Mirion Technologies by 81.2% in the 1st quarter. Jennison Associates LLC now owns 931,867 shares of the company's stock worth $13,512,000 after acquiring an additional 417,553 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Mirion Technologies by 49.9% in the 1st quarter. Segall Bryant & Hamill LLC now owns 711,349 shares of the company's stock worth $10,315,000 after acquiring an additional 236,766 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Mirion Technologies by 3,556.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,004,697 shares of the company's stock worth $14,568,000 after acquiring an additional 977,221 shares in the last quarter. Finally, Sumitomo Life Insurance Co. acquired a new position in shares of Mirion Technologies in the 1st quarter worth approximately $329,000. 78.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MIR. B. Riley reissued a "buy" rating and issued a $22.00 target price (up from $17.00) on shares of Mirion Technologies in a report on Wednesday. Citigroup boosted their target price on Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Robert W. Baird upped their price objective on Mirion Technologies from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $22.25.

Insider Activity at Mirion Technologies

In other Mirion Technologies news, Director Lawrence D. Kingsley sold 500,000 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $17.94, for a total transaction of $8,970,000.00. Following the completion of the sale, the director owned 61,287 shares in the company, valued at approximately $1,099,488.78. The trade was a 89.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.30% of the company's stock.

Mirion Technologies Trading Up 0.9%

NYSE:MIR traded up $0.19 during trading hours on Friday, hitting $21.94. 1,384,924 shares of the stock were exchanged, compared to its average volume of 2,813,753. The company's 50 day moving average is $20.20 and its two-hundred day moving average is $17.04. Mirion Technologies, Inc. has a twelve month low of $9.11 and a twelve month high of $22.22. The company has a quick ratio of 1.69, a current ratio of 2.23 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $5.09 billion, a P/E ratio of 56.26 and a beta of 0.83.

Mirion Technologies (NYSE:MIR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $202.00 million during the quarter, compared to analysts' expectations of $199.34 million. Mirion Technologies had a negative net margin of 1.16% and a positive return on equity of 6.07%. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. On average, sell-side analysts anticipate that Mirion Technologies, Inc. will post 0.39 earnings per share for the current fiscal year.

About Mirion Technologies

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.