Mirion Technologies (NYSE:MIR) Trading Down 8% - Here's What Happened

Key Points

• Mirion Technologies shares fell 8% to about $15.45, with trading volume significantly below average.
• The company beat quarterly EPS estimates ($0.12 versus $0.10) and reported 19.7% year-over-year revenue growth, though revenue came in slightly below expectations.
• Analysts maintain a consensus “Moderate Buy” rating with a $27 price target, while several firms recently lowered their targets; institutional investors own 78.51% of the stock.

Shares of Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) were down 8% on Wednesday . The company traded as low as $15.65 and last traded at $15.4480. Approximately 501,872 shares changed hands during trading, a decline of 86% from the average session volume of 3,637,315 shares. The stock had previously closed at $16.79.

Wall Street Analysts Forecast Growth

MIR has been the subject of several research analyst reports. Morgan Stanley lowered their target price on shares of Mirion Technologies from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Monday, July 13th. The Goldman Sachs Group cut their price target on shares of Mirion Technologies from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, July 10th. Weiss Ratings downgraded shares of Mirion Technologies from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, July 20th. Finally, Citigroup dropped their price objective on Mirion Technologies from $29.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.00.

Mirion Technologies Price Performance

The company has a quick ratio of 2.63, a current ratio of 3.19 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 150.64 and a beta of 1.03. The company has a fifty day moving average price of $17.28 and a two-hundred day moving average price of $19.91.

Mirion Technologies (NYSE:MIR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. Mirion Technologies had a net margin of 2.56% and a return on equity of 6.44%. The business had revenue of $266.80 million for the quarter, compared to analysts' expectations of $269.32 million. During the same period in the previous year, the company posted $0.11 EPS. The company's quarterly revenue was up 19.7% on a year-over-year basis. Mirion Technologies has set its FY 2026 guidance at 0.480-0.550 EPS. On average, equities research analysts expect that Mirion Technologies, Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Mirion Technologies news, CAO Christopher A. Moore sold 8,400 shares of Mirion Technologies stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $19.64, for a total value of $164,976.00. Following the transaction, the chief accounting officer directly owned 22,157 shares in the company, valued at approximately $435,163.48. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Mirion Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its stake in Mirion Technologies by 181.4% during the 3rd quarter. UBS Group AG now owns 4,796,833 shares of the company's stock valued at $111,574,000 after acquiring an additional 3,092,136 shares during the last quarter. Maverick Capital Ltd. purchased a new position in shares of Mirion Technologies in the 1st quarter valued at approximately $49,261,000. TCW Group Inc. acquired a new position in shares of Mirion Technologies in the fourth quarter valued at approximately $57,439,000. Invesco Ltd. raised its stake in shares of Mirion Technologies by 713.2% during the second quarter. Invesco Ltd. now owns 2,617,252 shares of the company's stock worth $56,349,000 after purchasing an additional 2,295,414 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Mirion Technologies by 126.1% during the fourth quarter. Bank of New York Mellon Corp now owns 3,076,945 shares of the company's stock worth $72,062,000 after purchasing an additional 1,716,020 shares during the period. Institutional investors and hedge funds own 78.51% of the company's stock.

About Mirion Technologies

Mirion Technologies Inc NYSE: MIR is a leading global provider of radiation detection, measurement and monitoring solutions. The company's portfolio includes instrumentation, software and service offerings designed to detect, quantify and manage radiation in nuclear power, oil and gas, defense and homeland security, medical imaging and diagnostic applications. Mirion's product suite spans personal and environmental dosimetry, area monitors, digital imaging detectors and turnkey solutions for decommissioning and environmental remediation projects.

Mirion traces its origins to the combination of several established radiation measurement businesses, including the former Canberra nuclear instrumentation division, and has been supported by private equity investors before completing its initial public offering on the New York Stock Exchange in 2023.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.