Mirion Technologies (NYSE:MIR) Sets New 52-Week High - Here's What Happened

Key Points

• Mirion Technologies reached a new 52-week high of $23.10, closing at $23.02 with a trading volume of over 10.7 million shares.
• Recent analyst reports show mixed ratings, with Citigroup raising its price target to $24.00, while Wall Street Zen downgraded the stock from a "buy" to a "hold."
• CEO Thomas D. Logan sold 325,000 shares at an average price of $21.31, reducing his ownership by nearly 8% while still holding approximately 3.74 million shares.

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report)'s share price hit a new 52-week high during trading on Saturday . The company traded as high as $23.10 and last traded at $23.02, with a volume of 10782182 shares traded. The stock had previously closed at $20.99.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. B. Riley reiterated a "buy" rating and set a $22.00 price objective (up previously from $17.00) on shares of Mirion Technologies in a research report on Wednesday, July 23rd. Citigroup lifted their price objective on Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Northland Securities assumed coverage on Mirion Technologies in a research report on Monday, August 25th. They set an "outperform" rating and a $26.00 price objective on the stock. 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 research report on Wednesday, July 9th. Finally, Wall Street Zen downgraded Mirion Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $23.00.

Mirion Technologies Price Performance

The company has a quick ratio of 2.01, a current ratio of 2.54 and a debt-to-equity ratio of 0.55. The company has a market cap of $5.28 billion, a PE ratio of 752.17 and a beta of 0.82. The stock has a 50-day simple moving average of $21.09 and a 200 day simple moving average of $18.10.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted 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. 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 earnings per share. The company's revenue for the quarter was up 7.6% on a year-over-year basis. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. Equities analysts expect that Mirion Technologies, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling

In other Mirion Technologies news, CEO Thomas D. Logan sold 325,000 shares of Mirion Technologies stock in a transaction on 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 owned 3,742,305 shares in the company, valued at $79,748,519.55. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mirion Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIR. Invesco Ltd. raised its position in Mirion Technologies by 713.2% in the second quarter. Invesco Ltd. now owns 2,617,252 shares of the company's stock valued at $56,349,000 after purchasing an additional 2,295,414 shares during the period. Brown Advisory Inc. grew its stake in shares of Mirion Technologies by 45.9% in the first quarter. Brown Advisory Inc. now owns 5,560,461 shares of the company's stock valued at $80,627,000 after buying an additional 1,748,437 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Mirion Technologies in the second quarter valued at $34,269,000. Millennium Management LLC grew its stake in shares of Mirion Technologies by 100.6% in the fourth quarter. Millennium Management LLC now owns 3,105,374 shares of the company's stock valued at $54,189,000 after buying an additional 1,557,077 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in shares of Mirion Technologies in the second quarter valued at $31,655,000. Hedge funds and other institutional investors own 78.51% of the company's stock.

Mirion Technologies Company Profile

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.