Mirion Technologies (NYSE:MIR) Stock Falls 7.1% – Should You Sell?

Mirion Technologies, Inc. (NYSE:MIR)’s share price traded down 7.1% during mid-day trading on Wednesday. The company traded as low as $17.22 and last traded at $17.89. 2,130,377 shares were traded during trading, a decline of 45% from the average daily volume of 3,868,642 shares. The stock had previously closed at $19.26.

Analysts Set New Price Targets

A number of research firms have issued reports on MIR. Citigroup decreased 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 lowered shares of Mirion Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 30th. Jefferies Financial Group started coverage on shares of Mirion Technologies in a report on Thursday, September 3rd. They set a “buy” rating and a $20.00 price objective on the stock. B. Riley Financial reissued a “buy” rating and issued a $25.00 target price (down from $27.00) on shares of Mirion Technologies in a research report on Thursday, October 29th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $23.00 target price on shares of Mirion Technologies in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.88.

Mirion Technologies Trading Up 1.7%

The stock has a 50-day moving average of $16.29 and a 200 day moving average of $18.00. The stock has a market cap of $4.42 billion, a PE ratio of 36.88 and a beta of 1.07. The company has a quick ratio of 2.49, a current ratio of 3.02 and a debt-to-equity ratio of 0.65.

Mirion Technologies (NYSE:MIR) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Mirion Technologies had a net margin of 2.69% and a return on equity of 6.82%. The company had revenue of $277.80 million for the quarter, compared to the consensus estimate of $275.35 million. During the same quarter in the prior year, the company earned $0.01 EPS. Mirion Technologies’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Mirion Technologies, Inc. will post 0.54 earnings per share for the current year.

Institutional Trading of Mirion Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in Mirion Technologies by 42.8% during the third quarter. Versant Capital Management Inc now owns 2,505 shares of the company’s stock valued at $35,000 after purchasing an additional 751 shares during the period. GAMMA Investing LLC boosted its holdings in Mirion Technologies by 65.1% in the third quarter. GAMMA Investing LLC now owns 2,579 shares of the company’s stock valued at $36,000 after purchasing an additional 1,017 shares during the last quarter. Covestor Ltd grew its position in Mirion Technologies by 64.0% during the 3rd quarter. Covestor Ltd now owns 3,701 shares of the company’s stock worth $52,000 after purchasing an additional 1,444 shares during the period. Assetmark Inc. grew its position in Mirion Technologies by 8,123.8% during the 1st quarter. Assetmark Inc. now owns 3,454 shares of the company’s stock worth $64,000 after purchasing an additional 3,412 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mirion Technologies during the 3rd quarter worth about $73,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

Mirion Technologies Company Profile

Mirion Technologies develops radiation detection, measurement and monitoring solutions for customers in the medical, nuclear energy, industrial, defense and research markets. Its products and services help organizations measure radiation, protect workers and the public, and support the safe operation of nuclear facilities. The company’s offerings include radiation-monitoring systems and instruments, personal dosimetry services, nuclear measurement and control equipment, and technologies used in medical imaging and radiation therapy.