Mirion Technologies (NYSE:MIR) Shares Gap Up - Here's What Happened

Key Points

• Mirion Technologies' stock gapped up significantly, opening at $22.91 after a previous close of $21.43, with a trading volume of 9,045,958 shares on Friday.
• Multiple brokerages have recently given Mirion Technologies favorable ratings, with price targets ranging from $22.00 to $28.00, reflecting a consensus rating of "Buy" and an average price target of $24.50.
• In its last quarterly earnings report, Mirion Technologies reported $0.11 earnings per share, exceeding analysts' expectations, and achieved a revenue of $222.90 million, which was a 7.6% increase year-over-year.

Shares of Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $21.43, but opened at $22.91. Mirion Technologies shares last traded at $22.85, with a volume of 9,045,958 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MIR. Northland Securities began coverage on Mirion Technologies in a report on Monday, August 25th. They set an "outperform" rating and a $26.00 price target for the company. JPMorgan Chase & Co. began coverage on Mirion Technologies in a research report on Friday. They issued an "overweight" rating and a $28.00 price objective for the company. The Goldman Sachs Group increased their price objective on Mirion Technologies from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Citigroup lifted their price target on Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, B. Riley reiterated a "buy" rating and set a $22.00 price objective (up previously from $17.00) on shares of Mirion Technologies in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat, Mirion Technologies has a consensus rating of "Buy" and an average price target of $24.50.

Mirion Technologies Stock Performance

The company has a current ratio of 2.54, a quick ratio of 2.01 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 775.77 and a beta of 0.82. The stock has a 50-day simple moving average of $21.71 and a 200-day simple moving average of $18.80.

Mirion Technologies (NYSE:MIR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. Mirion Technologies had a return on equity of 6.57% and a net margin of 1.12%.The business had revenue of $222.90 million during the quarter, compared to the consensus estimate of $216.78 million. During the same period in the previous year, the business earned $0.10 EPS. The business's quarterly revenue was up 7.6% on a year-over-year basis. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. On average, analysts anticipate that Mirion Technologies, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Thomas D. Logan sold 325,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $21.31, for a total transaction of $6,925,750.00. Following the completion of the transaction, the chief executive officer directly owned 3,742,305 shares in the company, valued at $79,748,519.55. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is currently owned by insiders.

Institutional Trading of Mirion Technologies

Several institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its holdings in shares of Mirion Technologies by 2.7% in the second quarter. Ameritas Investment Partners Inc. now owns 21,455 shares of the company's stock valued at $462,000 after buying an additional 557 shares during the period. Simon Quick Advisors LLC lifted its holdings in shares of Mirion Technologies by 2.4% in the second quarter. Simon Quick Advisors LLC now owns 25,300 shares of the company's stock valued at $545,000 after buying an additional 595 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Mirion Technologies by 24.0% in the second quarter. Nisa Investment Advisors LLC now owns 3,366 shares of the company's stock valued at $72,000 after buying an additional 651 shares during the period. Xponance Inc. lifted its holdings in shares of Mirion Technologies by 5.7% in the first quarter. Xponance Inc. now owns 15,793 shares of the company's stock valued at $229,000 after buying an additional 851 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Mirion Technologies by 18.1% in the second quarter. Smartleaf Asset Management LLC now owns 6,146 shares of the company's stock valued at $133,000 after buying an additional 941 shares during the period. Institutional investors and hedge funds own 78.51% of the company's stock.

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.

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