Mirion Technologies (NYSE:MIR) Hits New 12-Month High - Should You Buy?

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $19.54 and last traded at $19.44, with a volume of 5056139 shares traded. The stock had previously closed at $18.84.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. B. Riley cut their target price on shares of Mirion Technologies from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Citigroup dropped their price objective on shares of 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 dropped their price objective on shares of Mirion Technologies from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $18.75.

Mirion Technologies Stock Down 0.6%

The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of -100.74 and a beta of 0.74. The firm's 50 day moving average price is $15.65 and its two-hundred day moving average price is $16.10. The company has a current ratio of 2.16, a quick ratio of 1.55 and a debt-to-equity ratio of 0.43.

Mirion Technologies (NYSE:MIR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. Mirion Technologies had a negative net margin of 4.21% and a positive return on equity of 4.78%. The business had revenue of $202.00 million for the quarter, compared to analyst estimates of $199.34 million. During the same quarter in the prior year, the business earned $0.06 EPS. Mirion Technologies's quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Mirion Technologies, Inc. will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lawrence D. Kingsley sold 500,000 shares of the 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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Mirion Technologies

Large investors have recently modified their holdings of the company. Barclays PLC lifted its position in shares of Mirion Technologies by 325.0% during the third quarter. Barclays PLC now owns 307,680 shares of the company's stock valued at $3,405,000 after purchasing an additional 235,288 shares in the last quarter. KBC Group NV grew its stake in Mirion Technologies by 39.2% during the fourth quarter. KBC Group NV now owns 8,002 shares of the company's stock valued at $140,000 after acquiring an additional 2,254 shares in the last quarter. Jennison Associates LLC grew its stake in Mirion Technologies by 10.5% in the 4th quarter. Jennison Associates LLC now owns 514,314 shares of the company's stock worth $8,975,000 after buying an additional 48,761 shares in the last quarter. Longboard Asset Management LP purchased a new position in Mirion Technologies in the 4th quarter worth approximately $202,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Mirion Technologies by 1,532.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 520,692 shares of the company's stock worth $8,810,000 after buying an additional 488,790 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.