Mirion Technologies (NYSE:MIR) Stock Price Down 7.1% – What’s Next?

Shares of Mirion Technologies, Inc. (NYSE:MIR) traded down 7.1% on Wednesday. The stock traded as low as $17.22 and last traded at $17.89. 2,130,377 shares changed hands during trading, a decline of 45% from the average daily volume of 3,868,642 shares. The stock had previously closed at $19.26.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MIR shares. Jefferies Financial Group began coverage on shares of Mirion Technologies in a report on Thursday, September 3rd. They set a “buy” rating and a $20.00 target price on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $23.00 price objective on shares of Mirion Technologies in a research note on Wednesday, July 29th. B. Riley Financial reissued a “buy” rating and issued a $25.00 target price (down from $27.00) on shares of Mirion Technologies in a report on Thursday, October 29th. Weiss Ratings downgraded Mirion Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 30th. Finally, Citigroup dropped their price target on Mirion Technologies from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Mirion Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $24.88.

Mirion Technologies Stock Down 6.3%

The firm’s 50 day simple moving average is $16.20 and its 200 day simple moving average is $18.07. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 150.72 and a beta of 1.07. The company has a quick ratio of 2.49, a current ratio of 3.02 and a debt-to-equity ratio of 0.65.

Mirion Technologies (NYSE:MIR) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Mirion Technologies had a return on equity of 6.82% and a net margin of 2.69%. The business had revenue of $277.80 million during the quarter, compared to the consensus estimate of $275.35 million. During the same period in the previous year, the firm posted $0.01 earnings per share. The business’s revenue was up 24.5% on a year-over-year basis. Sell-side analysts anticipate that Mirion Technologies, Inc. will post 0.54 EPS for the current fiscal year.

Institutional Trading of Mirion Technologies

Hedge funds have recently added to or reduced their stakes in the business. Maverick Capital Ltd. bought a new position in shares of Mirion Technologies in the first quarter worth $49,261,000. William Blair Investment Management LLC bought a new stake in shares of Mirion Technologies during the third quarter valued at about $22,204,000. Bank of New York Mellon Corp lifted its holdings in Mirion Technologies by 47.4% in the first quarter. Bank of New York Mellon Corp now owns 4,536,732 shares of the company’s stock worth $84,338,000 after purchasing an additional 1,459,787 shares during the period. Public Sector Pension Investment Board lifted its holdings in Mirion Technologies by 82.2% in the third quarter. Public Sector Pension Investment Board now owns 1,531,361 shares of the company’s stock worth $21,623,000 after purchasing an additional 690,842 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Mirion Technologies by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,694,288 shares of the company’s stock worth $87,240,000 after purchasing an additional 591,730 shares during the period. Institutional investors own 78.51% of the company’s stock.

Mirion Technologies Company Profile

Mirion Technologies develops radiation detection, measurement and monitoring solutions for customers in the medical, nuclear energy, industrial, defense and research markets. Its products and services help organizations measure radiation, protect workers and the public, and support the safe operation of nuclear facilities. The company’s offerings include radiation-monitoring systems and instruments, personal dosimetry services, nuclear measurement and control equipment, and technologies used in medical imaging and radiation therapy.