Vanguard Group Inc. Reduces Stock Position in Mirion Technologies, Inc. $MIR

Key Points

• Vanguard Group Inc. reduced its stake in Mirion Technologies by 2.7%, selling 651,754 shares and now owns approximately 10.01% of the company.
• Mirion's stock has recently been rated with a consensus "Buy" rating from analysts, with price targets ranging from $22.00 to $24.00.
• The company reported earnings of $0.11 per share for the last quarter, surpassing expectations and showing a revenue increase of 7.6% year-over-year.

Vanguard Group Inc. lessened its stake in Mirion Technologies, Inc. (NYSE:MIR - Free Report) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,258,048 shares of the company's stock after selling 651,754 shares during the quarter. Vanguard Group Inc. owned approximately 10.01% of Mirion Technologies worth $337,242,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MIR. Brown Advisory Inc. purchased a new stake in shares of Mirion Technologies during the fourth quarter worth $66,520,000. Millennium Management LLC lifted its position in shares of Mirion Technologies by 100.6% during the fourth quarter. Millennium Management LLC now owns 3,105,374 shares of the company's stock worth $54,189,000 after acquiring an additional 1,557,077 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Mirion Technologies during the fourth quarter worth $17,164,000. Lord Abbett & CO. LLC lifted its position in shares of Mirion Technologies by 70.7% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,368,734 shares of the company's stock worth $41,334,000 after acquiring an additional 981,199 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Mirion Technologies by 3,556.6% during the first 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. Hedge funds and other institutional investors own 78.51% of the company's stock.

Mirion Technologies Price Performance

Shares of Mirion Technologies stock traded up $0.0020 during trading on Thursday, hitting $20.2420. The stock had a trading volume of 1,760,843 shares, compared to its average volume of 2,917,999. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 674.73 and a beta of 0.83. Mirion Technologies, Inc. has a 12 month low of $9.11 and a 12 month high of $22.80. The business's 50-day moving average is $20.97 and its 200 day moving average is $17.68. 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 (NYSE:MIR - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $222.90 million for 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 revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. As a group, sell-side analysts anticipate that Mirion Technologies, Inc. will post 0.39 earnings per share for the current year.

Insider Transactions at Mirion Technologies

In other Mirion Technologies news, CEO Thomas D. Logan sold 325,000 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 3,742,305 shares in the company, valued at $79,748,519.55. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Mirion Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. 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. B. Riley reaffirmed a "buy" rating and issued a $22.00 price target (up previously from $17.00) on shares of Mirion Technologies in a report on Wednesday, July 23rd. Finally, Citigroup upped their price target on shares of Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $22.25.

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.