Mirion Technologies (NYSE:MIR) Stock Price Down 6.8% After Insider Selling

Key Points

• The stock price of Mirion Technologies fell by 6.8% after CEO Thomas D. Logan sold 325,000 shares at an average price of $21.31, resulting in a significant decline in trading volume.
• Analysts maintain a consensus buy rating for Mirion Technologies, with target prices ranging from $22.00 to $24.00, indicating investor confidence despite recent insider selling.
• The company's recent earnings report showed a 7.6% year-over-year revenue increase, along with earnings per share surpassing consensus estimates, highlighting its financial performance amid stock price fluctuations.

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report)'s share price traded down 6.8% on Thursday after an insider sold shares in the company. The stock traded as low as $20.75 and last traded at $20.62. 1,305,568 shares were traded during mid-day trading, a decline of 48% from the average session volume of 2,534,381 shares. The stock had previously closed at $22.13.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Mirion Technologies from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen cut Mirion Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. B. Riley reiterated a "buy" rating and set a $22.00 target price (up previously from $17.00) on shares of Mirion Technologies in a report on Wednesday, July 23rd. Finally, Citigroup boosted their target price on Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $22.25.

Mirion Technologies Stock Down 3.7%

The firm has a 50-day moving average of $20.97 and a 200 day moving average of $17.63. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 657.27 and a beta of 0.83. The company has a current ratio of 2.54, a quick ratio of 2.01 and a debt-to-equity ratio of 0.55.

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

Hedge Funds Weigh In On Mirion Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KBC Group NV lifted its position in Mirion Technologies by 31.0% during the 1st quarter. KBC Group NV now owns 10,485 shares of the company's stock worth $152,000 after acquiring an additional 2,483 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Mirion Technologies by 14.9% in the 1st quarter. Principal Financial Group Inc. now owns 14,057 shares of the company's stock valued at $204,000 after purchasing an additional 1,820 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Mirion Technologies in the 4th quarter valued at approximately $480,000. Xponance Inc. raised its position in shares of Mirion Technologies by 5.7% in the 1st quarter. Xponance Inc. now owns 15,793 shares of the company's stock valued at $229,000 after purchasing an additional 851 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Mirion Technologies by 3,556.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,004,697 shares of the company's stock valued at $14,568,000 after purchasing an additional 977,221 shares in the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

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.