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

Key Points

• Mirion Technologies shares opened higher, rising from a prior close of $15.67 to $16.45 before trading at $16.08, up about 1.4%.
• Analyst sentiment remains favorable, with one Strong Buy, eight Buy, and two Hold ratings. The stock has a “Moderate Buy” consensus and an average price target of $25.56, despite recent target-price reductions from Morgan Stanley and Citigroup.
• Mirion exceeded quarterly earnings expectations with $0.12 in EPS versus $0.10 forecast, while revenue rose 19.7% year over year to $266.8 million. Institutional investors own 78.51% of the company, with several funds increasing their stakes.

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $15.67, but opened at $16.45. Mirion Technologies shares last traded at $16.0770, with a volume of 201,658 shares.

Analyst Ratings Changes

MIR has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Mirion Technologies from a "sell (d)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Morgan Stanley cut 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. Citigroup decreased their price objective on Mirion Technologies from $28.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. The Goldman Sachs Group reissued a "buy" rating and set a $23.00 target price on shares of Mirion Technologies in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group initiated coverage on shares of Mirion Technologies in a research note on Thursday, September 3rd. They issued a "buy" rating and a $20.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Mirion Technologies has an average rating of "Moderate Buy" and an average target price of $25.56.

Mirion Technologies Trading Up 1.4%

The company has a market capitalization of $3.96 billion, a PE ratio of 158.83 and a beta of 1.05. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.20 and a quick ratio of 2.63. The company's fifty day moving average is $15.79 and its 200-day moving average is $17.75.

Mirion Technologies (NYSE:MIR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. The firm had revenue of $266.80 million during the quarter, compared to analysts' expectations of $269.32 million. Mirion Technologies had a return on equity of 6.59% and a net margin of 2.39%.The firm's quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 EPS. Mirion Technologies has set its FY 2026 guidance at 0.480-0.550 EPS. On average, analysts anticipate that Mirion Technologies, Inc. will post 0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Mirion Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MIR. Tidal Investments LLC increased its holdings in shares of Mirion Technologies by 8.5% during the second quarter. Tidal Investments LLC now owns 840,683 shares of the company's stock valued at $15,073,000 after acquiring an additional 65,670 shares in the last quarter. Nykredit A S acquired a new stake in shares of Mirion Technologies during the second quarter worth $137,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Mirion Technologies during the 2nd quarter valued at about $276,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in Mirion Technologies in the second quarter valued at approximately $2,597,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Mirion Technologies by 31.2% in the 2nd quarter. Wellington Management Group LLP now owns 1,098,987 shares of the company's stock valued at $19,705,000 after acquiring an additional 261,175 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

About Mirion Technologies

Mirion Technologies, Inc develops and provides radiation detection, measurement, and analysis solutions. Its products and services are used to monitor radiation, support nuclear safety, improve operational efficiency, and provide data for medical, industrial, scientific, and government applications.

The company's offerings include radiation detectors, spectroscopy systems, dosimetry and personnel-monitoring solutions, radiation-monitoring equipment, and related software and services. In healthcare, Mirion provides technologies used in radiation therapy quality assurance, medical imaging, and radiation safety.

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