Swedbank AB Trims Position in Mirion Technologies, Inc. $MIR

Key Points

• Swedbank AB has reduced its holdings in Mirion Technologies by 23.4%, now owning approximately 1.78% of the company valued at about $88.8 million after selling over 1.26 million shares.
• CEO Thomas D. Logan sold 325,000 shares valued at approximately $6.93 million, which represents a 7.99% decrease in his ownership stake.
• Mirion Technologies' stock experienced an increase of 8.3%, with analysts giving it strong buy ratings and a target price increase from $22.00 to $25.00 by Goldman Sachs.

Swedbank AB decreased its stake in Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 23.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,126,035 shares of the company's stock after selling 1,260,965 shares during the period. Swedbank AB owned 1.78% of Mirion Technologies worth $88,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. purchased a new stake in shares of Mirion Technologies in the fourth quarter valued at about $1,628,000. BNP Paribas Financial Markets purchased a new position in shares of Mirion Technologies in the fourth quarter valued at $480,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Mirion Technologies by 7.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 117,596 shares of the company's stock worth $2,052,000 after buying an additional 8,201 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Mirion Technologies by 72.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,371,004 shares of the company's stock valued at $23,924,000 after purchasing an additional 577,620 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Mirion Technologies by 54.1% during the 4th quarter. ProShare Advisors LLC now owns 58,179 shares of the company's stock valued at $1,015,000 after purchasing an additional 20,414 shares during the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mirion Technologies

In related news, CEO Thomas D. Logan sold 325,000 shares of the company'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 value of $6,925,750.00. Following the sale, the chief executive officer owned 3,742,305 shares in the company, valued at $79,748,519.55. This represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Mirion Technologies Price Performance

Shares of Mirion Technologies stock traded up $0.10 during mid-day trading on Monday, reaching $24.54. 2,818,712 shares of the stock traded hands, compared to its average volume of 5,593,990. Mirion Technologies, Inc. has a fifty-two week low of $10.30 and a fifty-two week high of $24.94. 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 stock has a market capitalization of $5.74 billion, a PE ratio of 818.07 and a beta of 0.82. The business has a 50-day moving average of $21.63 and a 200 day moving average of $18.68.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on MIR. Northland Securities started coverage on Mirion Technologies in a research report on Monday, August 25th. They set an "outperform" rating and a $26.00 price target for the company. B. Riley restated a "buy" rating and issued a $22.00 price target (up from $17.00) on shares of Mirion Technologies in a research note on Wednesday, July 23rd. Robert W. Baird increased their target price on Mirion Technologies from $20.00 to $22.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Northland Capmk upgraded Mirion Technologies to a "strong-buy" rating in a report on Sunday, August 24th. Finally, Citigroup raised their price objective on Mirion Technologies from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently 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.