Mirion Technologies (NYSE:MIR) Hits New 12-Month High - Here's Why

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $20.65 and last traded at $20.49, with a volume of 3773042 shares. The stock had previously closed at $19.89.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MIR shares. Citigroup dropped their price objective on Mirion Technologies from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Robert W. Baird dropped 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. Finally, 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. 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. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $18.75.

Mirion Technologies Price Performance

The business's 50 day moving average is $16.25 and its two-hundred day moving average is $16.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.55 and a current ratio of 2.16. The firm has a market capitalization of $4.58 billion, a PE ratio of -103.93 and a beta of 0.80.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted its quarterly 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. Mirion Technologies had a positive return on equity of 4.78% and a negative net margin of 4.21%. The firm had revenue of $202.00 million during the quarter, compared to analyst estimates of $199.34 million. During the same period last year, the company earned $0.06 earnings per share. The business's revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Mirion Technologies, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Lawrence D. Kingsley sold 500,000 shares of the company's stock in a transaction that occurred 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 now directly owns 61,287 shares in the company, valued at approximately $1,099,488.78. This represents a 89.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.30% of the stock is owned by company insiders.

Institutional Trading of Mirion Technologies

Hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC raised its position in Mirion Technologies by 360,400.0% during the first quarter. AlphaQuest LLC now owns 3,605 shares of the company's stock valued at $52,000 after purchasing an additional 3,604 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Mirion Technologies during the 1st quarter valued at about $68,000. Smartleaf Asset Management LLC raised its holdings in shares of Mirion Technologies by 582.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,205 shares of the company's stock valued at $76,000 after buying an additional 4,442 shares in the last quarter. CWM LLC lifted its position in Mirion Technologies by 1,026.3% in 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 last quarter. Finally, GAMMA Investing LLC boosted its stake in Mirion Technologies by 2,310.3% in the first quarter. GAMMA Investing LLC now owns 7,279 shares of the company's stock worth $106,000 after buying an additional 6,977 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

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.