Mirion Technologies (NYSE:MIR) Shares Up 6.4% - Here's Why

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) was up 6.4% during mid-day trading on Wednesday . The company traded as high as $21.59 and last traded at $21.56. Approximately 690,165 shares traded hands during trading, a decline of 66% from the average daily volume of 2,015,340 shares. The stock had previously closed at $20.26.

Analyst Ratings Changes

MIR has been the subject of a number of research analyst reports. Robert W. Baird lowered their price objective on shares of Mirion Technologies from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Citigroup lowered their price objective on shares of Mirion Technologies from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, B. Riley lowered their price objective on shares of Mirion Technologies from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Mirion Technologies has a consensus rating of "Buy" and an average price target of $18.75.

Mirion Technologies Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.69 and a current ratio of 2.23. The company has a market cap of $4.99 billion, a PE ratio of -358.45 and a beta of 0.80. The company's 50-day simple moving average is $17.83 and its 200 day simple moving average is $16.53.

Mirion Technologies (NYSE:MIR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Mirion Technologies had a negative net margin of 1.16% and a positive return on equity of 6.07%. The company had revenue of $202.00 million during the quarter, compared to analysts' expectations of $199.34 million. During the same quarter last year, the company posted $0.06 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Mirion Technologies, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Lawrence D. Kingsley sold 500,000 shares of the firm's stock in a transaction 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 sale, the director now directly owns 61,287 shares in the company, valued at approximately $1,099,488.78. This trade represents a 89.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Mirion Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in Mirion Technologies during the 4th quarter worth $480,000. Y Intercept Hong Kong Ltd acquired a new stake in Mirion Technologies during the 4th quarter worth $394,000. Legal & General Group Plc raised its stake in Mirion Technologies by 5.1% during the 4th quarter. Legal & General Group Plc now owns 219,698 shares of the company's stock worth $3,834,000 after acquiring an additional 10,673 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Mirion Technologies by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 661,429 shares of the company's stock worth $11,542,000 after acquiring an additional 13,248 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Mirion Technologies by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,599,211 shares of the company's stock worth $27,906,000 after acquiring an additional 39,635 shares in the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

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.