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

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.72 and last traded at $19.65, with a volume of 1215578 shares. The stock had previously closed at $19.41.

Analysts Set New Price Targets

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

Mirion Technologies Stock Up 1.0%

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.16 and a quick ratio of 1.55. The stock has a fifty day moving average price of $15.83 and a two-hundred day moving average price of $16.15. The company has a market cap of $4.59 billion, a P/E ratio of -104.16 and a beta of 0.80.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, beating 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 company had revenue of $202.00 million for the quarter, compared to analyst estimates of $199.34 million. During the same quarter last year, the company earned $0.06 earnings per share. The company's revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts expect that Mirion Technologies, Inc. will post 0.39 EPS for the current year.

Insider Activity

In related news, Director Lawrence D. Kingsley sold 500,000 shares of Mirion Technologies stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $17.94, for a total transaction of $8,970,000.00. Following the sale, the director now directly owns 61,287 shares in the company, valued at approximately $1,099,488.78. This trade represents a 89.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.30% of the company's stock.

Institutional Trading of Mirion Technologies

A number of hedge funds have recently bought and sold shares of MIR. Arrowstreet Capital Limited Partnership lifted its holdings in Mirion Technologies by 29,948.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,214,921 shares of the company's stock worth $73,550,000 after acquiring an additional 4,200,894 shares during the period. Brown Advisory Inc. bought a new stake in Mirion Technologies during the fourth quarter worth $66,520,000. William Blair Investment Management LLC bought a new stake in Mirion Technologies during the fourth quarter worth $53,066,000. Bornite Capital Management LP bought a new stake in Mirion Technologies during the fourth quarter worth $36,942,000. Finally, Millennium Management LLC lifted its holdings in Mirion Technologies by 100.6% during the fourth quarter. Millennium Management LLC now owns 3,105,374 shares of the company's stock worth $54,189,000 after acquiring an additional 1,557,077 shares during the period. 78.51% of the stock is currently 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.