Mirion Technologies (NYSE:MIR) Sets New 52-Week High – Here’s Why

Shares of Mirion Technologies, Inc. (NYSE:MIR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $17.09 and last traded at $17.00, with a volume of 163085 shares. The stock had previously closed at $16.87.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup lifted their target price on Mirion Technologies from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. B. Riley began coverage on Mirion Technologies in a research report on Thursday, September 26th. They set a “buy” rating and a $14.00 target price for the company. Finally, The Goldman Sachs Group raised their price target on Mirion Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Mirion Technologies Stock Performance

The firm’s 50 day moving average is $14.28 and its 200 day moving average is $11.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.55 and a current ratio of 2.16. The stock has a market cap of $3.93 billion, a P/E ratio of -49.82 and a beta of 0.76.

Mirion Technologies (NYSE:MIR) last released 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 negative net margin of 7.84% and a positive return on equity of 4.33%. The business had revenue of $206.80 million during the quarter, compared to analysts’ expectations of $203.67 million. During the same quarter last year, the business posted $0.03 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts anticipate that Mirion Technologies, Inc. will post 0.36 EPS for the current year.

Insider Activity at Mirion Technologies

In related news, insider Emmanuelle Lee sold 3,405 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $14.27, for a total value of $48,589.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas D. Logan sold 7,500 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $14.11, for a total transaction of $105,825.00. Following the completion of the sale, the chief executive officer now directly owns 1,544,017 shares in the company, valued at $21,786,079.87. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,405 shares of company stock valued at $285,939 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Mirion Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in MIR. Millennium Management LLC grew its position in Mirion Technologies by 509.8% during the second quarter. Millennium Management LLC now owns 533,534 shares of the company’s stock valued at $5,730,000 after buying an additional 446,034 shares during the period. Corsair Capital Management L.P. grew its position 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 valued at $34,991,000 after acquiring an additional 1,441,846 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in shares of Mirion Technologies in the 2nd quarter valued at about $1,890,000. Telemark Asset Management LLC acquired a new position in Mirion Technologies in the 3rd quarter worth about $4,428,000. Finally, Rice Hall James & Associates LLC purchased a new position in Mirion Technologies during the second quarter worth approximately $2,377,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

Mirion Technologies Company Profile

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.