Insider Selling: Mirion Technologies, Inc. (NYSE:MIR) CEO Sells 325,000 Shares of Stock

Key Points

• Thomas D. Logan, CEO of Mirion Technologies, sold 325,000 shares of the company's stock for approximately $6.93 million, resulting in a 7.99% decrease in his holdings.
• Mirion Technologies reported a 7.6% increase in revenue year-over-year, totaling $222.90 million for the quarter ended July 31st, with earnings per share of $0.11.
• Institutional investors now hold 78.51% of Mirion Technologies' stock, with significant increases in holdings from companies like EverSource Wealth Advisors and AlphaQuest LLC.

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) CEO Thomas D. Logan sold 325,000 shares of Mirion Technologies stock in a transaction dated 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 directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mirion Technologies Trading Up 0.1%

NYSE:MIR traded up $0.03 during mid-day trading on Monday, reaching $20.58. 115,872 shares of the company's stock traded hands, compared to its average volume of 2,529,417. Mirion Technologies, Inc. has a 12-month low of $9.11 and a 12-month high of $22.80. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 683.67 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.54 and a quick ratio of 2.01. The company has a 50 day moving average price of $20.97 and a 200-day moving average price of $17.59.

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 analysts' consensus estimates of $0.10 by $0.01. Mirion Technologies had a return on equity of 6.57% and a net margin of 1.12%. The company had revenue of $222.90 million for the quarter, compared to the consensus estimate of $216.78 million. During the same quarter in the previous year, the business earned $0.10 EPS. Mirion Technologies's revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Mirion Technologies, Inc. will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MIR. Fortress Investment Group LLC purchased a new position in Mirion Technologies during the 2nd quarter valued at about $32,000. EverSource Wealth Advisors LLC grew its holdings in shares of Mirion Technologies by 470.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $35,000 after acquiring an additional 1,354 shares during the period. AlphaQuest LLC grew its holdings in shares of Mirion Technologies by 360,400.0% during the 1st quarter. AlphaQuest LLC now owns 3,605 shares of the company's stock worth $52,000 after acquiring an additional 3,604 shares during the period. FSC Wealth Advisors LLC purchased a new position in shares of Mirion Technologies during the 2nd quarter worth approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Mirion Technologies during the 1st quarter worth approximately $68,000. Hedge funds and other institutional investors own 78.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MIR. Robert W. Baird lifted their price objective on Mirion Technologies from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Citigroup lifted their price objective on Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, July 14th. B. Riley reiterated a "buy" rating and issued a $22.00 price objective (up previously from $17.00) on shares of Mirion Technologies in a report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded Mirion Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price 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.