Mirion Technologies (NYSE:MIR) Downgraded by Wall Street Zen to Hold

Key Points

• The stock rating for Mirion Technologies was downgraded from "buy" to "hold" by analysts at Wall Street Zen.
• Despite the downgrade, the stock retains a consensus rating of "Buy" with a target price of $22.25.
• Recent earnings report showed a 7.6% year-over-year revenue increase, with an EPS of $0.11, slightly exceeding the analysts' consensus estimate.

Mirion Technologies (NYSE:MIR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

A number of other equities research analysts also recently weighed in on MIR. Robert W. Baird raised their target price on Mirion Technologies from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. B. Riley reaffirmed a "buy" rating and set a $22.00 target price (up from $17.00) on shares of Mirion Technologies in a research report on Wednesday, July 23rd. Finally, Citigroup lifted their price objective on Mirion Technologies from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $22.25.

Mirion Technologies Stock Performance

Shares of NYSE MIR traded up $0.95 during trading hours on Friday, reaching $22.26. 1,611,718 shares of the stock were exchanged, compared to its average volume of 2,537,775. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 741.90 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.01 and a current ratio of 2.54. Mirion Technologies has a 52 week low of $9.11 and a 52 week high of $22.80. The stock's fifty day simple moving average is $20.83 and its 200 day simple moving average is $17.41.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $222.90 million for the quarter, compared to the consensus estimate of $216.78 million. Mirion Technologies had a return on equity of 6.57% and a net margin of 1.12%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. Sell-side analysts predict that Mirion Technologies will post 0.39 EPS for the current year.

Insider Buying and Selling at Mirion Technologies

In related news, Director Lawrence D. Kingsley sold 500,000 shares of the business's stock in a transaction dated 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 directly owned 61,287 shares of the company's stock, valued at $1,099,488.78. The trade was a 89.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.20% of the company's stock.

Institutional Trading of Mirion Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC increased its position in Mirion Technologies by 53.1% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 1,089,217 shares of the company's stock valued at $23,451,000 after buying an additional 377,868 shares in the last quarter. Rhumbline Advisers increased its holdings in Mirion Technologies by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 318,602 shares of the company's stock worth $6,859,000 after purchasing an additional 11,180 shares in the last quarter. AXQ Capital LP bought a new stake in Mirion Technologies during the 2nd quarter worth approximately $574,000. Franklin Resources Inc. bought a new stake in Mirion Technologies during the 2nd quarter worth approximately $14,385,000. Finally, Legal & General Group Plc increased its holdings in Mirion Technologies by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 242,824 shares of the company's stock worth $5,228,000 after purchasing an additional 9,095 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

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.