Mirion Technologies (NYSE:MIR) Stock Price Down 8% – Here’s What Happened

Mirion Technologies, Inc. (NYSE:MIR)’s share price traded down 8% during trading on Wednesday . The company traded as low as $15.65 and last traded at $15.4480. 501,872 shares changed hands during trading, a decline of 86% from the average daily volume of 3,637,315 shares. The stock had previously closed at $16.79.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MIR. Weiss Ratings downgraded shares of Mirion Technologies from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, July 20th. Morgan Stanley lowered their price objective on Mirion Technologies from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Monday, July 13th. The Goldman Sachs Group dropped their target price on Mirion Technologies from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Finally, Citigroup cut their target price on Mirion Technologies from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Mirion Technologies Stock Performance

The stock’s fifty day simple moving average is $17.28 and its 200-day simple moving average is $19.91. The company has a quick ratio of 2.63, a current ratio of 3.19 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3.76 billion, a PE ratio of 150.64 and a beta of 1.03.

Mirion Technologies (NYSE:MIR) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Mirion Technologies had a return on equity of 6.44% and a net margin of 2.56%.The business had revenue of $266.80 million for the quarter, compared to analysts’ expectations of $269.32 million. During the same quarter in the prior year, the firm posted $0.11 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. Mirion Technologies has set its FY 2026 guidance at 0.480-0.550 EPS. On average, research analysts predict that Mirion Technologies, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mirion Technologies news, CAO Christopher A. Moore sold 8,400 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $19.64, for a total transaction of $164,976.00. Following the sale, the chief accounting officer directly owned 22,157 shares in the company, valued at approximately $435,163.48. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of Mirion Technologies in the 3rd quarter worth about $25,000. UMB Bank n.a. grew its position in shares of Mirion Technologies by 175.4% in the fourth quarter. UMB Bank n.a. now owns 1,344 shares of the company’s stock valued at $31,000 after purchasing an additional 856 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Mirion Technologies by 470.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company’s stock valued at $35,000 after purchasing an additional 1,354 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Mirion Technologies by 58.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,709 shares of the company’s stock worth $40,000 after purchasing an additional 631 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Mirion Technologies by 78.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,018 shares of the company’s stock worth $47,000 after purchasing an additional 887 shares in the last quarter. Hedge funds and other institutional investors 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.