Mirion Technologies (NYSE:MIR) Stock Price Up 5.4% on Analyst Upgrade

Mirion Technologies, Inc. (NYSE:MIR)’s stock price rose 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. Approximately 1,279,678 shares were traded during trading, a decline of 7% from the average daily volume of 1,382,940 shares. The stock had previously closed at $17.07.

A number of other equities analysts have also recently commented on MIR. B. Riley initiated coverage on Mirion Technologies in a report on Thursday, September 26th. They issued a “buy” rating and a $14.00 target price on the stock. The Goldman Sachs Group lifted their price objective on Mirion Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, October 31st.

Insiders Place Their Bets

In other news, insider Emmanuelle Lee sold 3,405 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $14.27, for a total value of $48,589.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas D. Logan sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $10.47, for a total value of $78,525.00. Following the transaction, the chief executive officer now directly owns 1,544,017 shares in the company, valued at $16,165,857.99. This represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,405 shares of company stock worth $285,939 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in 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 acquiring an additional 1,031,966 shares during the period. State Street Corp boosted its holdings in shares of Mirion Technologies by 2.7% in the third quarter. State Street Corp now owns 5,365,728 shares of the company’s stock valued at $59,399,000 after acquiring an additional 138,648 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Mirion Technologies by 3.4% in the third quarter. Geode Capital Management LLC now owns 4,502,455 shares of the company’s stock valued at $49,851,000 after buying an additional 147,408 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Mirion Technologies by 61.9% in the second 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 during the period. Finally, Corsair Capital Management L.P. raised its stake in shares of Mirion Technologies by 83.9% during the 3rd 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. 78.51% of the stock is currently owned by institutional investors and hedge funds.

Mirion Technologies Stock Up 5.4 %

The stock has a fifty day moving average price of $14.41 and a two-hundred day moving average price of $11.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.16 and a quick ratio of 1.55.

Mirion Technologies (NYSE:MIR) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $206.80 million for the quarter, compared to analyst estimates of $203.67 million. Mirion Technologies had a positive return on equity of 4.33% and a negative net margin of 7.84%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. As a group, 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.