Mirion Technologies (NYSE:MIR) Reaches New 1-Year High - Here's Why

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $21.95 and last traded at $21.52, with a volume of 5014750 shares changing hands. The stock had previously closed at $20.26.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup decreased their price objective on shares of Mirion Technologies from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, April 14th. B. Riley cut their price target on Mirion Technologies from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Robert W. Baird lowered their price target on Mirion Technologies from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $18.75.

Mirion Technologies Price Performance

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 company has a market capitalization of $4.99 billion, a price-to-earnings ratio of -358.67 and a beta of 0.80. The stock's 50-day simple moving average is $17.68 and its two-hundred day simple moving average is $16.50.

Mirion Technologies (NYSE:MIR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $202.00 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. Equities research analysts predict that Mirion Technologies, Inc. will post 0.39 earnings per share for the current year.

Insider Activity

In other news, Director Lawrence D. Kingsley sold 500,000 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $17.94, for a total transaction of $8,970,000.00. Following the completion of the sale, the director now owns 61,287 shares of the company's stock, valued at $1,099,488.78. This represents a 89.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Mirion Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in Mirion Technologies in the 4th quarter worth approximately $480,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Mirion Technologies in the fourth quarter valued at approximately $394,000. Legal & General Group Plc increased its holdings in shares of Mirion Technologies by 5.1% in the fourth quarter. Legal & General Group Plc now owns 219,698 shares of the company's stock valued at $3,834,000 after purchasing an additional 10,673 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Mirion Technologies by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 661,429 shares of the company's stock worth $11,542,000 after buying an additional 13,248 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Mirion Technologies by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,599,211 shares of the company's stock worth $27,906,000 after buying an additional 39,635 shares in the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

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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