Mirion Technologies (NYSE:MIR) Sets New 12-Month High - Should You Buy?

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.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on MIR. Citigroup increased 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. Robert W. Baird increased their price objective on shares of Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, B. Riley reaffirmed a "buy" rating and set a $22.00 price objective (up from $17.00) on shares of Mirion Technologies in a report on Wednesday, July 23rd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $22.25.

Mirion Technologies Trading Down 0.4%

The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of -372.00 and a beta of 0.83. The company's 50-day moving average is $20.48 and its 200-day moving average is $17.17. The company has a quick ratio of 1.69, a current ratio of 2.23 and a debt-to-equity ratio of 0.44.

Mirion Technologies (NYSE:MIR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). Mirion Technologies had a positive return on equity of 6.07% and a negative net margin of 1.16%. Research analysts anticipate that Mirion Technologies, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Mirion Technologies

In other Mirion Technologies news, Director Lawrence D. Kingsley sold 500,000 shares of Mirion Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $17.94, for a total value of $8,970,000.00. Following the completion of the transaction, the director directly owned 61,287 shares of the company's stock, valued at $1,099,488.78. The trade was a 89.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in Mirion Technologies by 24.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,366 shares of the company's stock worth $72,000 after buying an additional 651 shares during the period. AlphaQuest LLC increased its stake in 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 buying an additional 3,604 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Mirion Technologies during the 1st quarter worth approximately $68,000. Smartleaf Asset Management LLC increased its stake in Mirion Technologies by 582.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,205 shares of the company's stock worth $76,000 after buying an additional 4,442 shares during the period. Finally, CWM LLC increased its stake in Mirion Technologies by 1,026.3% during the 1st quarter. CWM LLC now owns 6,431 shares of the company's stock worth $93,000 after buying an additional 5,860 shares during the period. Institutional investors and hedge funds own 78.51% of the company's stock.

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.