Sumitomo Mitsui DS Asset Management Company Ltd Purchases 148,619 Shares of Mirion Technologies, Inc. $MIR

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Mirion Technologies by 169.4%, acquiring an additional 148,619 shares, bringing their total ownership to approximately 0.10% of the company.
• CEO Thomas D. Logan sold 325,000 shares of Mirion Technologies for approximately $6.9 million, resulting in a 7.99% decrease in his ownership.
• Analysts have mixed views on Mirion Technologies, with Goldman Sachs raising their price target to $25.00 and a consensus rating of "Buy" following recent performance.

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 169.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 236,340 shares of the company's stock after purchasing an additional 148,619 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.10% of Mirion Technologies worth $5,088,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. KBC Group NV boosted its stake in shares of Mirion Technologies by 31.0% during the 1st quarter. KBC Group NV now owns 10,485 shares of the company's stock worth $152,000 after acquiring an additional 2,483 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Mirion Technologies by 14.9% during the 1st quarter. Principal Financial Group Inc. now owns 14,057 shares of the company's stock worth $204,000 after acquiring an additional 1,820 shares during the period. Intech Investment Management LLC boosted its stake in shares of Mirion Technologies by 38.0% during the 1st quarter. Intech Investment Management LLC now owns 127,952 shares of the company's stock worth $1,855,000 after acquiring an additional 35,218 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Mirion Technologies during the 4th quarter worth approximately $480,000. Finally, Xponance Inc. boosted its stake in Mirion Technologies by 5.7% in the 1st quarter. Xponance Inc. now owns 15,793 shares of the company's stock valued at $229,000 after purchasing an additional 851 shares during the period. Institutional investors and hedge funds own 78.51% of the company's stock.

Mirion Technologies Stock Performance

Shares of NYSE MIR traded up $0.27 during mid-day trading on Tuesday, hitting $24.78. The company had a trading volume of 339,789 shares, compared to its average volume of 2,864,971. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 827.27 and a beta of 0.82. Mirion Technologies, Inc. has a 1 year low of $10.30 and a 1 year high of $25.15. The company has a current ratio of 2.54, a quick ratio of 2.01 and a debt-to-equity ratio of 0.55. The stock's 50-day moving average price is $21.63 and its 200-day moving average price is $18.68.

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 for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $222.90 million during the quarter, compared to analysts' expectations of $216.78 million. Mirion Technologies had a return on equity of 6.57% and a net margin of 1.12%.The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. On average, sell-side analysts forecast that Mirion Technologies, Inc. will post 0.39 earnings per share for the current year.

Insider Transactions at Mirion Technologies

In related news, CEO Thomas D. Logan sold 325,000 shares of Mirion Technologies stock in a transaction 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 completion of the sale, the chief executive officer owned 3,742,305 shares of the company's stock, valued at approximately $79,748,519.55. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MIR. Northland Securities began coverage on Mirion Technologies in a research note on Monday, August 25th. They issued an "outperform" rating and a $26.00 price target for the company. Robert W. Baird boosted their price target on Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen downgraded Mirion Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup boosted their price target on Mirion Technologies from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, The Goldman Sachs Group upped their target price on Mirion Technologies from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $23.80.

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.