Twin Tree Management LP Invests $852,000 in Mirion Technologies, Inc. $MIR

Key Points

• Twin Tree Management LP has invested approximately $852,000, acquiring 39,581 shares of Mirion Technologies, Inc. ($MIR) in Q2 2023 as per its 13F filing with the SEC.
• CEO Thomas D. Logan sold 325,000 shares for over $6.9 million, reducing his holdings by 7.99%, while he still retains approximately 3.74 million shares valued around $79.75 million.
• Mirion Technologies reported an earnings per share of $0.11 for Q2, exceeding analyst estimates, and has set a FY 2025 EPS guidance of $0.480-$0.520.

Twin Tree Management LP bought a new position in shares of Mirion Technologies, Inc. (NYSE:MIR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 39,581 shares of the company's stock, valued at approximately $852,000.

Other hedge funds also recently modified their holdings of the company. Xponance Inc. raised its stake in Mirion Technologies by 5.7% in the 1st quarter. Xponance Inc. now owns 15,793 shares of the company's stock worth $229,000 after purchasing an additional 851 shares in the last quarter. Principal Financial Group Inc. raised its stake in Mirion Technologies by 14.9% in the 1st quarter. Principal Financial Group Inc. now owns 14,057 shares of the company's stock worth $204,000 after purchasing an additional 1,820 shares in the last quarter. KBC Group NV raised its stake in Mirion Technologies by 31.0% in the 1st quarter. KBC Group NV now owns 10,485 shares of the company's stock worth $152,000 after purchasing an additional 2,483 shares in the last quarter. Arizona State Retirement System raised its stake in Mirion Technologies by 4.7% in the 1st quarter. Arizona State Retirement System now owns 58,214 shares of the company's stock worth $844,000 after purchasing an additional 2,608 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in Mirion Technologies by 360,400.0% in the 1st quarter. AlphaQuest LLC now owns 3,605 shares of the company's stock worth $52,000 after purchasing an additional 3,604 shares in the last quarter. Institutional investors and hedge funds own 78.51% of the company's stock.

Insider Activity

In related news, CEO Thomas D. Logan sold 325,000 shares of Mirion Technologies stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $21.31, for a total transaction of $6,925,750.00. Following the sale, the chief executive officer directly owned 3,742,305 shares of the company's stock, valued at approximately $79,748,519.55. The trade was a 7.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.30% of the company's stock.

Mirion Technologies Trading Down 1.8%

Shares of Mirion Technologies stock opened at $24.47 on Friday. The firm has a market capitalization of $5.73 billion, a PE ratio of 815.67 and a beta of 0.88. 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 firm's 50 day moving average is $22.29 and its 200 day moving average is $19.70. Mirion Technologies, Inc. has a 1 year low of $12.00 and a 1 year high of $25.54.

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 (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $222.90 million for the quarter, compared to analyst estimates of $216.78 million. Mirion Technologies had a net margin of 1.12% and a return on equity of 6.57%. The firm's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. Equities research analysts forecast that Mirion Technologies, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MIR. Robert W. Baird lifted their price objective on shares of Mirion Technologies from $23.00 to $26.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Wall Street Zen cut shares of Mirion Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Northland Securities boosted their target price on shares of Mirion Technologies from $26.00 to $29.00 and gave the company an "outperform" rating in a research report on Monday, September 29th. Northland Capmk upgraded shares of Mirion Technologies to a "strong-buy" rating in a research report on Sunday, August 24th. Finally, 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 report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $26.33.

Mirion Technologies Company 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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