Mirion Technologies (NYSE:MIR) Hits New 1-Year High - What's Next?

Key Points

• Mirion Technologies shares reached a new 52-week high of $22.52 during trading, with analysts issuing positive ratings and price target upgrades.
• The company reported a quarterly earnings per share of $0.10, surpassing expectations, and had a year-over-year revenue increase of 4.9%.
• Institutional investors hold a significant stake in Mirion, with 78.51% of the stock owned by hedge funds and other institutional investors.

Shares of Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $22.52 and last traded at $22.12, with a volume of 48830 shares trading hands. The stock had previously closed at $21.94.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MIR shares. Robert W. Baird increased their price target on Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Citigroup increased their price target on Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, B. Riley reissued a "buy" rating and set a $22.00 price objective (up previously from $17.00) on shares of Mirion Technologies in a report on Wednesday, July 23rd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Mirion Technologies has an average rating of "Buy" and a consensus target price of $22.25.

Mirion Technologies Trading Up 2.5%

The company has a quick ratio of 1.69, a current ratio of 2.23 and a debt-to-equity ratio of 0.44. The firm has a market cap of $5.22 billion, a P/E ratio of -374.83 and a beta of 0.83. The company's 50 day simple moving average is $20.20 and its 200-day simple moving average is $17.05.

Mirion Technologies (NYSE:MIR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. The business had revenue of $202.00 million for the quarter, compared to analyst estimates of $199.34 million. Mirion Technologies had a negative net margin of 1.16% and a positive return on equity of 6.07%. The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. As a group, research analysts predict that Mirion Technologies, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Mirion Technologies

In other Mirion Technologies news, Director Lawrence D. Kingsley sold 500,000 shares of Mirion Technologies stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $17.94, for a total value of $8,970,000.00. Following the transaction, the director directly owned 61,287 shares of the company's stock, valued at approximately $1,099,488.78. The trade was a 89.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mirion Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC acquired a new stake in shares of Mirion Technologies during the fourth quarter worth $187,000. Sei Investments Co. acquired a new stake in shares of Mirion Technologies during the fourth quarter worth $3,279,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Mirion Technologies during the fourth quarter worth $654,000. LPL Financial LLC acquired a new stake in shares of Mirion Technologies during the fourth quarter worth $211,000. Finally, Vanguard Group Inc. lifted its stake in shares of Mirion Technologies by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 23,909,802 shares of the company's stock worth $417,226,000 after buying an additional 227,178 shares during the period. 78.51% of the stock is owned by hedge funds and other institutional investors.

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.

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