Mirion Technologies (NYSE:MIR) Sets New 12-Month Low - Here's What Happened

Key Points

• Mirion Technologies shares hit a new 52-week low, falling to $14.11 from a previous close of $16.79 amid trading volume exceeding 10.6 million shares.
• Despite the selloff, analysts maintained a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $26.71.
• Mirion’s latest quarter showed mixed results: earnings per share beat estimates at $0.12 versus $0.10 expected, while revenue of $266.8 million came in below forecasts but rose 19.7% year over year.

Shares of Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $14.11 and last traded at $14.5850, with a volume of 10606027 shares traded. The stock had previously closed at $16.79.

Wall Street Analyst Weigh In

MIR has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $23.00 price target on shares of Mirion Technologies in a research note on Wednesday. Citigroup dropped their price target on Mirion Technologies from $29.00 to $28.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Weiss Ratings downgraded shares of Mirion Technologies from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, July 20th. Finally, Morgan Stanley decreased their price objective on shares of Mirion Technologies from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Mirion Technologies has a consensus rating of "Moderate Buy" and an average price target of $26.71.

Mirion Technologies Price Performance

The stock has a 50 day moving average of $17.21 and a 200-day moving average of $19.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.63 and a current ratio of 3.19. The company has a market cap of $3.65 billion, a PE ratio of 145.85 and a beta of 1.03.

Mirion Technologies (NYSE:MIR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $266.80 million for the quarter, compared to the consensus estimate of $269.32 million. Mirion Technologies had a return on equity of 6.57% and a net margin of 2.39%.The company's quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. Mirion Technologies has set its FY 2026 guidance at 0.480-0.550 EPS. Equities analysts predict that Mirion Technologies, Inc. will post 0.53 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Christopher A. Moore sold 8,400 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $19.64, for a total value of $164,976.00. Following the transaction, the chief accounting officer owned 22,157 shares in the company, valued at approximately $435,163.48. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Mirion Technologies

Several large investors have recently made changes to their positions in the business. Tema ETFs LLC increased its stake in shares of Mirion Technologies by 45.4% in the second quarter. Tema ETFs LLC now owns 226,408 shares of the company's stock worth $4,059,000 after acquiring an additional 70,668 shares during the period. Balefire LLC purchased a new stake in Mirion Technologies in the second quarter valued at $226,000. Altshuler Shaham Ltd boosted its holdings in Mirion Technologies by 12.3% in the first quarter. Altshuler Shaham Ltd now owns 13,147 shares of the company's stock valued at $244,000 after purchasing an additional 1,443 shares during the last quarter. Amundi grew its position in Mirion Technologies by 198.3% during the 1st quarter. Amundi now owns 36,691 shares of the company's stock worth $682,000 after purchasing an additional 24,391 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Mirion Technologies by 22.2% during the first quarter. California State Teachers Retirement System now owns 274,096 shares of the company's stock worth $5,095,000 after acquiring an additional 49,751 shares during the period. 78.51% of the stock is owned by hedge funds and other institutional investors.

About Mirion Technologies

Mirion Technologies Inc NYSE: MIR is a leading global provider of radiation detection, measurement and monitoring solutions. The company's portfolio includes instrumentation, software and service offerings designed to detect, quantify and manage radiation in nuclear power, oil and gas, defense and homeland security, medical imaging and diagnostic applications. Mirion's product suite spans personal and environmental dosimetry, area monitors, digital imaging detectors and turnkey solutions for decommissioning and environmental remediation projects.

Mirion traces its origins to the combination of several established radiation measurement businesses, including the former Canberra nuclear instrumentation division, and has been supported by private equity investors before completing its initial public offering on the New York Stock Exchange in 2023.

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