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

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $17.44, but opened at $18.11. Mirion Technologies shares last traded at $18.37, with a volume of 2,579,015 shares changing hands.

Analyst Upgrades and Downgrades

MIR has been the topic of several research analyst reports. B. Riley lowered 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 decreased their price target on shares of Mirion Technologies from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Robert W. Baird cut their price objective on Mirion Technologies from $22.00 to $20.00 and set an "outperform" rating for the company in a research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $18.75.

Mirion Technologies Stock Performance

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 business has a 50-day moving average of $15.26 and a 200-day moving average of $15.95. The company has a market capitalization of $4.38 billion, a P/E ratio of -99.49 and a beta of 0.74.

Mirion Technologies (NYSE:MIR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $202.00 million during the quarter, compared to analyst estimates of $199.34 million. Mirion Technologies had a negative net margin of 4.21% and a positive return on equity of 4.78%. The business's revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.06 EPS. On average, sell-side analysts anticipate 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 the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 61,287 shares of the company's stock, valued at approximately $1,099,488.78. This trade represents a 89.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.30% of the company's stock.

Institutional Trading of Mirion Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC boosted its stake in shares of Mirion Technologies by 38.0% during the first quarter. Intech Investment Management LLC now owns 127,952 shares of the company's stock valued at $1,855,000 after purchasing an additional 35,218 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Mirion Technologies by 8.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 434,583 shares of the company's stock valued at $6,301,000 after buying an additional 34,973 shares in the last quarter. Sciencast Management LP purchased a new stake in Mirion Technologies in the 1st quarter valued at about $152,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Mirion Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,962 shares of the company's stock valued at $1,783,000 after buying an additional 5,366 shares during the period. Finally, Bosun Asset Management LLC grew its stake in Mirion Technologies by 88.4% in the 1st quarter. Bosun Asset Management LLC now owns 25,934 shares of the company's stock worth $376,000 after acquiring an additional 12,172 shares in the last quarter. Hedge funds and other institutional investors 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.