Mirion Technologies (NYSE:MIR) Shares Gap Down - What's Next?

Key Points

• Mirion Technologies shares gapped down significantly, opening at $20.06 after closing at $22.35, with the stock currently valued at $19.37.
• Analyst ratings for Mirion show a consensus average of "Buy" and a target price of $22.25, with several brokerages recently raising their price objectives.
• The company reported earnings of $0.11 per share for the last quarter, surpassing estimates, and showed a year-over-year revenue increase of 7.6% with $222.90 million in revenue.

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $22.35, but opened at $20.06. Mirion Technologies shares last traded at $19.37, with a volume of 2,387,209 shares.

Wall Street Analysts Forecast Growth

MIR has been the topic of several recent research reports. Citigroup upped their price objective on shares of Mirion Technologies from $23.00 to $24.00 and gave the company a "buy" rating in a report on Monday, July 14th. Robert W. Baird lifted their price objective on Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, B. Riley reissued a "buy" rating and set a $22.00 price objective (up previously from $17.00) on shares of Mirion Technologies in a report on Wednesday, July 23rd. Four 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 target price of $22.25.

Mirion Technologies Stock Performance

The firm has a market cap of $4.99 billion, a PE ratio of 717.00 and a beta of 0.83. The company has a 50 day simple moving average of $20.67 and a 200-day simple moving average of $17.31. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.23 and a quick ratio of 1.69.

Mirion Technologies (NYSE:MIR - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Mirion Technologies had a net margin of 1.12% and a return on equity of 6.52%. The company had revenue of $222.90 million for the quarter, compared to analyst estimates of $216.78 million. During the same quarter last year, the firm earned $0.10 EPS. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Mirion Technologies, Inc. will post 0.39 EPS for the current year.

Insider Activity

In other Mirion Technologies news, Director Lawrence D. Kingsley sold 500,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $17.94, for a total value of $8,970,000.00. Following the completion of the sale, the director owned 61,287 shares in the company, valued at approximately $1,099,488.78. This trade represents a 89.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MIR. Nisa Investment Advisors LLC boosted its stake in Mirion Technologies by 24.0% during the second quarter. Nisa Investment Advisors LLC now owns 3,366 shares of the company's stock worth $72,000 after acquiring an additional 651 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of 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 during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Mirion Technologies in the 1st quarter worth approximately $68,000. Smartleaf Asset Management LLC grew its stake in shares of Mirion Technologies by 582.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 5,205 shares of the company's stock worth $76,000 after buying an additional 4,442 shares during the last quarter. Finally, CWM LLC increased its position in Mirion Technologies by 1,026.3% during the 1st quarter. CWM LLC now owns 6,431 shares of the company's stock valued at $93,000 after buying an additional 5,860 shares in the last quarter. Institutional investors own 78.51% of the company's stock.

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.