Citigroup Has Lowered Expectations for Mirion Technologies (NYSE:MIR) Stock Price

Mirion Technologies (NYSE:MIR) had its price objective cut by investment analysts at Citigroup from $32.00 to $29.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 35.68% from the company’s current price.

A number of other brokerages also recently issued reports on MIR. Evercore initiated coverage on shares of Mirion Technologies in a research note on Tuesday, November 25th. They set an “outperform” rating and a $29.00 price objective on the stock. The Goldman Sachs Group reduced their target price on Mirion Technologies from $33.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. raised their price objective on Mirion Technologies from $28.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Morgan Stanley initiated coverage on Mirion Technologies in a research note on Friday, January 23rd. They set an “equal weight” rating and a $29.00 target price for the company. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Mirion Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $28.38.

Mirion Technologies Stock Performance

Shares of MIR traded up $0.32 during midday trading on Thursday, reaching $21.37. 3,296,120 shares of the stock were exchanged, compared to its average volume of 2,847,102. The company has a quick ratio of 4.32, a current ratio of 4.83 and a debt-to-equity ratio of 0.63. The stock’s 50 day simple moving average is $24.81 and its 200 day simple moving average is $23.96. Mirion Technologies has a twelve month low of $12.00 and a twelve month high of $30.28. The company has a market cap of $5.42 billion, a P/E ratio of 194.50 and a beta of 0.97.

Mirion Technologies (NYSE:MIR) last announced its earnings results on Tuesday, February 10th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Mirion Technologies had a return on equity of 7.25% and a net margin of 3.11%.The business had revenue of $277.40 million for the quarter, compared to analyst estimates of $281.17 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Mirion Technologies has set its FY 2026 guidance at 0.500-0.570 EPS. On average, sell-side analysts expect that Mirion Technologies will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In other Mirion Technologies news, Director Lawrence D. Kingsley sold 350,000 shares of Mirion Technologies stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $24.73, for a total transaction of $8,655,500.00. Following the transaction, the director directly owned 3,509,075 shares of the company’s stock, valued at approximately $86,779,424.75. The trade was a 9.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Mirion Technologies

Several large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new position in Mirion Technologies in the third quarter valued at approximately $25,000. Wolff Wiese Magana LLC bought a new stake in shares of Mirion Technologies in the 3rd quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in shares of Mirion Technologies during the 3rd quarter valued at $30,000. Fortress Investment Group LLC acquired a new position in shares of Mirion Technologies during the 2nd quarter valued at $32,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Mirion Technologies by 470.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company’s stock worth $35,000 after purchasing an additional 1,354 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.

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.