Mirion Technologies (NYSE:MIR) Shares Gap Up on Earnings Beat

Mirion Technologies, Inc. (NYSE:MIR)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $16.17, but opened at $16.72. Mirion Technologies shares last traded at $15.86, with a volume of 469,182 shares.

The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Mirion Technologies had a positive return on equity of 4.33% and a negative net margin of 7.84%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MIR shares. Baird R W upgraded Mirion Technologies to a “strong-buy” rating in a research note on Thursday, December 19th. Robert W. Baird began coverage on Mirion Technologies in a research note on Thursday, December 19th. They issued an “outperform” rating and a $22.00 price objective for the company. Citigroup upped their price target on Mirion Technologies from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their price target on Mirion Technologies from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $19.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pictet Asset Management Holding SA grew its holdings in Mirion Technologies by 14.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 28,114 shares of the company’s stock worth $491,000 after acquiring an additional 3,496 shares during the period. JPMorgan Chase & Co. grew its holdings in Mirion Technologies by 171.7% in the fourth quarter. JPMorgan Chase & Co. now owns 598,048 shares of the company’s stock valued at $10,436,000 after purchasing an additional 377,915 shares during the last quarter. Pier Capital LLC acquired a new stake in Mirion Technologies in the fourth quarter valued at $11,481,000. Segall Bryant & Hamill LLC grew its holdings in Mirion Technologies by 39.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 474,583 shares of the company’s stock valued at $8,281,000 after purchasing an additional 134,909 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new stake in Mirion Technologies in the fourth quarter valued at $4,111,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

Mirion Technologies Price Performance

The company has a quick ratio of 1.55, a current ratio of 2.16 and a debt-to-equity ratio of 0.43. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -46.86 and a beta of 0.73. The company has a fifty day simple moving average of $17.02 and a two-hundred day simple moving average of $14.03.

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.