Mirion Technologies, Inc. (NYSE:MIR) Receives $27.00 Consensus PT from Analysts

Mirion Technologies, Inc. (NYSE:MIR) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $27.00.

Several research firms recently weighed in on MIR. Citigroup decreased their price objective on shares of Mirion Technologies from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Morgan Stanley dropped 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 research report on Monday, July 13th. Robert W. Baird cut their price target on shares of Mirion Technologies from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. Weiss Ratings lowered shares of Mirion Technologies from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group lowered their price objective on shares of Mirion Technologies from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, July 10th.

Mirion Technologies Price Performance

Shares of NYSE MIR opened at $16.80 on Friday. The firm has a market capitalization of $4.21 billion, a P/E ratio of 167.95 and a beta of 1.03. 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 stock’s 50-day simple moving average is $17.31 and its two-hundred day simple moving average is $19.96. Mirion Technologies has a twelve month low of $15.57 and a twelve month high of $30.28.

Mirion Technologies (NYSE:MIR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Mirion Technologies had a return on equity of 6.44% and a net margin of 2.56%.The firm had revenue of $257.60 million for the quarter, compared to analysts’ expectations of $244.78 million. During the same quarter last year, the firm posted $0.10 EPS. The company’s revenue was up 27.5% compared to the same quarter last year. As a group, equities analysts anticipate that Mirion Technologies will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Christopher A. Moore sold 8,400 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $19.64, for a total value of $164,976.00. Following the transaction, the chief accounting officer owned 22,157 shares of the company’s stock, valued at $435,163.48. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mirion Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of MIR. UBS Group AG increased its position in shares of 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 purchasing an additional 3,092,136 shares during the last quarter. Maverick Capital Ltd. bought a new stake in Mirion Technologies in the 1st quarter worth approximately $49,261,000. TCW Group Inc. purchased a new stake in Mirion Technologies in the fourth quarter worth approximately $57,439,000. Invesco Ltd. boosted its stake in Mirion Technologies by 713.2% in the second quarter. Invesco Ltd. now owns 2,617,252 shares of the company’s stock worth $56,349,000 after buying an additional 2,295,414 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in 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 valued at $72,062,000 after acquiring an additional 1,716,020 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 (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.