Mirion Technologies (NYSE:MIR) Shares Up 5.4% After Analyst Upgrade

Shares of Mirion Technologies, Inc. (NYSE:MIR) shot up 5.4% on Thursday after Citigroup raised their price target on the stock from $18.00 to $20.00. Citigroup currently has a buy rating on the stock. Mirion Technologies traded as high as $18.03 and last traded at $18.00. 1,279,678 shares were traded during mid-day trading, a decline of 7% from the average session volume of 1,382,940 shares. The stock had previously closed at $17.07.

A number of other research firms have also recently weighed in on MIR. B. Riley started coverage on Mirion Technologies in a report on Thursday, September 26th. They issued a “buy” rating and a $14.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Mirion Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Insider Activity

In other news, CEO Thomas D. Logan sold 7,500 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $14.11, for a total value of $105,825.00. Following the completion of the sale, the chief executive officer now owns 1,544,017 shares in the company, valued at approximately $21,786,079.87. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Emmanuelle Lee sold 5,000 shares of Mirion Technologies stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $10.60, for a total transaction of $53,000.00. Following the sale, the insider now owns 138,193 shares in the company, valued at $1,464,845.80. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,405 shares of company stock valued at $285,939 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mirion Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in Mirion Technologies by 61.9% during the 2nd quarter. American Century Companies Inc. now owns 3,942,571 shares of the company’s stock valued at $42,343,000 after purchasing an additional 1,507,101 shares in the last quarter. Corsair Capital Management L.P. increased its stake in shares of Mirion Technologies by 83.9% in the third quarter. Corsair Capital Management L.P. now owns 3,160,850 shares of the company’s stock worth $34,991,000 after buying an additional 1,441,846 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mirion Technologies by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 6,111,933 shares of the company’s stock worth $65,642,000 after buying an additional 1,031,966 shares during the last quarter. Nicholas Investment Partners LP acquired a new stake in Mirion Technologies in the second quarter valued at $5,223,000. Finally, Millennium Management LLC boosted its stake in Mirion Technologies by 509.8% during the 2nd quarter. Millennium Management LLC now owns 533,534 shares of the company’s stock valued at $5,730,000 after acquiring an additional 446,034 shares during the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

Mirion Technologies Stock Performance

The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of -53.03 and a beta of 0.76. The company’s fifty day simple moving average is $14.55 and its two-hundred day simple moving average is $11.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.55 and a current ratio of 2.16.

Mirion Technologies (NYSE:MIR) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Mirion Technologies had a positive return on equity of 4.33% and a negative net margin of 7.84%. The firm had revenue of $206.80 million during the quarter, compared to analyst estimates of $203.67 million. During the same quarter last year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts predict that Mirion Technologies, Inc. will post 0.36 earnings per share for the current fiscal year.

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.