Sandler Capital Management Reduces Holdings in Mirion Technologies, Inc. $MIR

Key Points

• Sandler Capital Management significantly reduced its stake in Mirion Technologies by 68.2% in the first quarter, selling 390,664 shares and owning just 181,787 shares afterwards.
• Other institutional investors, such as T. Rowe Price and Brown Advisory, have increased their holdings in Mirion Technologies, reflecting a broader interest from hedge funds.
• Mirion Technologies reported earnings of $0.11 per share, exceeding estimates, with quarterly revenue of $222.90 million, which is a 7.6% increase from the prior year.

Sandler Capital Management lowered its stake in Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 68.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 181,787 shares of the company's stock after selling 390,664 shares during the quarter. Sandler Capital Management owned approximately 0.08% of Mirion Technologies worth $2,636,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its stake in Mirion Technologies by 1.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,710,389 shares of the company's stock worth $300,301,000 after acquiring an additional 322,243 shares during the last quarter. Janus Henderson Group PLC increased its stake in Mirion Technologies by 2.8% in the 4th quarter. Janus Henderson Group PLC now owns 8,330,495 shares of the company's stock worth $145,367,000 after acquiring an additional 229,718 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Mirion Technologies by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,363,954 shares of the company's stock worth $106,779,000 after acquiring an additional 178,260 shares during the last quarter. Brown Advisory Inc. increased its stake in Mirion Technologies by 45.9% in the 1st quarter. Brown Advisory Inc. now owns 5,560,461 shares of the company's stock worth $80,627,000 after acquiring an additional 1,748,437 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in Mirion Technologies by 10.3% in the 1st quarter. Alyeska Investment Group L.P. now owns 4,150,262 shares of the company's stock worth $60,179,000 after acquiring an additional 388,947 shares during the last quarter. Institutional investors own 78.51% of the company's stock.

Mirion Technologies Price Performance

Shares of Mirion Technologies stock opened at $23.02 on Friday. The business's 50-day moving average price is $21.07 and its 200-day moving average price is $18.04. 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 12 month low of $9.11 and a 12 month high of $23.10. The firm has a market capitalization of $5.39 billion, a PE ratio of 767.20 and a beta of 0.82.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Mirion Technologies had a return on equity of 6.57% and a net margin of 1.12%.The business had revenue of $222.90 million for the quarter, compared to analyst estimates of $216.78 million. During the same period last year, the company earned $0.10 EPS. Mirion Technologies's revenue for the quarter 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. Sell-side analysts forecast that Mirion Technologies, Inc. will post 0.39 EPS for the current fiscal year.

Insider Transactions at Mirion Technologies

In related news, CEO Thomas D. Logan sold 325,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 3,742,305 shares in the company, valued at $79,748,519.55. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. B. Riley restated a "buy" rating and issued a $22.00 target price (up from $17.00) on shares of Mirion Technologies in a research note on Wednesday, July 23rd. Northland Capmk upgraded Mirion Technologies to a "strong-buy" rating in a research note on Sunday, August 24th. Citigroup upped their target price on Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Robert W. Baird upped their target price on Mirion Technologies from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen lowered Mirion Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $23.00.

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.

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