Mirion Technologies (NYSE:MIR) Price Target Raised to $25.00

Key Points

• The Goldman Sachs Group raised its price target for Mirion Technologies from $22.00 to $25.00, indicating a potential upside of 6.56% from the current stock price.
• Despite the positive price target from Goldman Sachs, Wall Street Zen downgraded Mirion Technologies from a "buy" to a "hold" rating on August 9th.
• Mirion Technologies reported a 7.6% year-over-year increase in revenue, with quarterly earnings of $0.11 per share, exceeding analysts' estimates by $0.01.

Mirion Technologies (NYSE:MIR - Get Free Report) had its price target increased by equities research analysts at The Goldman Sachs Group from $22.00 to $25.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 6.56% from the stock's current price.

Several other research analysts have also recently commented on MIR. Wall Street Zen cut Mirion Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Northland Securities initiated coverage on Mirion Technologies in a research note on Monday, August 25th. They set an "outperform" rating and a $26.00 target price for the company. Northland Capmk upgraded shares of Mirion Technologies to a "strong-buy" rating in a research note on Sunday, August 24th. B. Riley reaffirmed a "buy" rating and issued a $22.00 price target (up from $17.00) on shares of Mirion Technologies in a report on Wednesday, July 23rd. Finally, Citigroup raised their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $23.80.

Mirion Technologies Stock Down 0.1%

Shares of NYSE MIR traded down $0.02 during trading on Tuesday, reaching $23.46. 1,283,763 shares of the stock were exchanged, compared to its average volume of 2,765,659. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 781.53 and a beta of 0.82. The business's 50-day moving average price is $21.28 and its 200 day moving average price is $18.35. The company has a quick ratio of 2.01, a current ratio of 2.54 and a debt-to-equity ratio of 0.55. Mirion Technologies has a twelve month low of $9.58 and a twelve month high of $23.64.

Mirion Technologies (NYSE:MIR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Mirion Technologies had a net margin of 1.12% and a return on equity of 6.57%. The firm 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 firm posted $0.10 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. As a group, equities analysts forecast that Mirion Technologies will post 0.39 EPS for the current fiscal year.

Insider Transactions at Mirion Technologies

In other news, CEO Thomas D. Logan sold 325,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $21.31, for a total transaction of $6,925,750.00. Following the completion of the transaction, the chief executive officer owned 3,742,305 shares of the company's stock, valued at approximately $79,748,519.55. The trade was a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MIR. Invesco Ltd. boosted its position in shares of Mirion Technologies by 713.2% during the second quarter. Invesco Ltd. now owns 2,617,252 shares of the company's stock worth $56,349,000 after buying an additional 2,295,414 shares during the period. Brown Advisory Inc. raised its stake in Mirion Technologies by 45.9% during the 1st quarter. Brown Advisory Inc. now owns 5,560,461 shares of the company's stock valued at $80,627,000 after acquiring an additional 1,748,437 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in Mirion Technologies during the 2nd quarter worth $34,269,000. Hood River Capital Management LLC acquired a new position in Mirion Technologies during the 2nd quarter worth $31,655,000. Finally, Nuveen LLC bought a new position in shares of Mirion Technologies in the first quarter worth $20,132,000. Institutional investors 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.

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