William Blair Investment Management LLC Acquires New Shares in Mirion Technologies, Inc. $MIR

Key Points

• William Blair Investment Management opened a new position in Mirion Technologies, acquiring 1.57 million shares valued at about $22.2 million, or roughly 0.63% of the company.
• Mirion reported quarterly revenue of $277.8 million, up 24.5% year over year and above estimates; earnings of $0.12 per share matched analyst expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $24.88. Shares recently traded at $17.73, down 1.2% that day.

William Blair Investment Management LLC acquired a new position in Mirion Technologies, Inc. (NYSE:MIR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,572,490 shares of the company's stock, valued at approximately $22,204,000. William Blair Investment Management LLC owned approximately 0.63% of Mirion Technologies as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Tidal Investments LLC lifted its holdings in shares of Mirion Technologies by 8.5% during the 2nd quarter. Tidal Investments LLC now owns 840,683 shares of the company's stock valued at $15,073,000 after acquiring an additional 65,670 shares in the last quarter. Wellington Management Group LLP increased its holdings in Mirion Technologies by 31.2% in the 2nd quarter. Wellington Management Group LLP now owns 1,098,987 shares of the company's stock valued at $19,705,000 after purchasing an additional 261,175 shares in the last quarter. Madison Asset Management LLC acquired a new stake in Mirion Technologies in the 2nd quarter valued at $3,407,000. B. Metzler seel. Sohn & Co. AG purchased a new position in Mirion Technologies in the second quarter valued at about $2,597,000. Finally, Lazard Asset Management LLC raised its position in Mirion Technologies by 125.4% in the first quarter. Lazard Asset Management LLC now owns 322,421 shares of the company's stock valued at $5,994,000 after purchasing an additional 179,358 shares during the period. Hedge funds and other institutional investors own 78.51% of the company's stock.

Mirion Technologies Stock Down 1.2%

MIR traded down $0.22 during trading hours on Friday, reaching $17.73. 2,653,204 shares of the stock traded hands, compared to its average volume of 5,136,484. The firm's fifty day simple moving average is $16.31 and its two-hundred day simple moving average is $17.96. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 147.75 and a beta of 1.07. Mirion Technologies, Inc. has a fifty-two week low of $14.04 and a fifty-two week high of $27.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.02 and a quick ratio of 2.49.

Mirion Technologies (NYSE:MIR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.12 EPS for the quarter, hitting analysts' consensus estimates of $0.12. Mirion Technologies had a net margin of 2.69% and a return on equity of 6.82%. The firm had revenue of $277.80 million for the quarter, compared to analyst estimates of $275.35 million. During the same quarter in the previous year, the business posted $0.01 EPS. The firm's revenue was up 24.5% compared to the same quarter last year. As a group, analysts forecast that Mirion Technologies, Inc. will post 0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

MIR has been the topic of a number of recent research reports. The Goldman Sachs Group restated a "buy" rating and set a $23.00 price objective on shares of Mirion Technologies in a research note on Wednesday, July 29th. Citigroup lowered their target price on Mirion Technologies from $28.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Jefferies Financial Group started coverage on Mirion Technologies in a report on Thursday, September 3rd. They set a "buy" rating and a $20.00 target price on the stock. B. Riley Financial reiterated a "buy" rating and set a $25.00 target price (down from $27.00) on shares of Mirion Technologies in a report on Thursday, October 29th. Finally, Weiss Ratings lowered Mirion Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Mirion Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $24.88.

About Mirion Technologies

Mirion Technologies develops radiation detection, measurement and monitoring solutions for customers in the medical, nuclear energy, industrial, defense and research markets. Its products and services help organizations measure radiation, protect workers and the public, and support the safe operation of nuclear facilities. The company's offerings include radiation-monitoring systems and instruments, personal dosimetry services, nuclear measurement and control equipment, and technologies used in medical imaging and radiation therapy.

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