Mirion Technologies (NYSE:MIR) Shares Up 6.8% - Here's What Happened

Key Points

• Mirion Technologies shares jumped 6.8% to approximately $16.63, although trading volume was about 80% below the average session volume.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $25.56; Jefferies initiated coverage with a Buy rating and a $20 target.
• The company beat 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 outstanding shares.

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) shares shot up 6.8% during trading on Thursday . The company traded as high as $16.75 and last traded at $16.6340. Approximately 746,809 shares traded hands during trading, a decline of 80% from the average session volume of 3,709,931 shares. The stock had previously closed at $15.57.

Wall Street Analysts Forecast Growth

MIR has been the subject of several analyst reports. Citigroup cut their price target on shares of Mirion Technologies from $28.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Weiss Ratings upgraded Mirion Technologies from a "sell (d)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. Morgan Stanley dropped their price objective on Mirion Technologies from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Monday, July 13th. Jefferies Financial Group began coverage on shares of Mirion Technologies in a report on Thursday. They issued a "buy" rating and a $20.00 price target for the company. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $23.00 price objective on shares of Mirion Technologies in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.56.

Mirion Technologies Stock Performance

The stock has a 50-day moving average price of $16.01 and a 200-day moving average price of $18.08. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 168.60 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.

Mirion Technologies (NYSE:MIR - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Mirion Technologies had a net margin of 2.39% and a return on equity of 6.59%. The firm had revenue of $266.80 million for the quarter, compared to the consensus estimate of $269.32 million. During the same period in the previous year, the company earned $0.11 earnings per share. 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. As a group, analysts forecast that Mirion Technologies, Inc. will post 0.54 earnings per share for the current year.

Institutional Investors Weigh In On Mirion Technologies

Institutional investors have recently modified their holdings of the business. US Bancorp DE raised its holdings in Mirion Technologies by 6.6% in the 3rd quarter. US Bancorp DE now owns 6,874 shares of the company's stock valued at $160,000 after buying an additional 425 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in Mirion Technologies by 0.4% in the fourth quarter. Kennedy Capital Management LLC now owns 125,076 shares of the company's stock worth $2,929,000 after purchasing an additional 505 shares in the last quarter. Altshuler Shaham Ltd grew its position in shares of Mirion Technologies by 5.1% during the 4th quarter. Altshuler Shaham Ltd now owns 11,704 shares of the company's stock worth $274,000 after buying an additional 563 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Mirion Technologies by 58.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,709 shares of the company's stock valued at $40,000 after purchasing an additional 631 shares in the last quarter. Finally, UMB Bank n.a. increased its position in Mirion Technologies by 175.4% in the 4th quarter. UMB Bank n.a. now owns 1,344 shares of the company's stock valued at $31,000 after buying an additional 856 shares in the last quarter. Institutional investors own 78.51% of the company's stock.

Mirion Technologies Company Profile

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.

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