Mirion Technologies (NYSE:MIR) Trading Down 4.2% – Here’s What Happened

Shares of Mirion Technologies, Inc. (NYSE:MIR) were down 4.2% on Wednesday . The company traded as low as $18.50 and last traded at $18.4380. Approximately 1,018,512 shares traded hands during trading, a decline of 69% from the average daily volume of 3,333,038 shares. The stock had previously closed at $19.25.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley lowered their target price on Mirion Technologies from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 11th. Citigroup lowered their price objective on shares of Mirion Technologies from $32.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. The Goldman Sachs Group dropped their target price on shares of Mirion Technologies from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. JPMorgan Chase & Co. reduced their target price on shares of Mirion Technologies from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, March 9th. Finally, Evercore initiated coverage on shares of Mirion Technologies in a research note on Tuesday, November 25th. They set an “outperform” rating and a $29.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Mirion Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.63.

Mirion Technologies Stock Down 3.0%

The business has a fifty day moving average of $22.68 and a 200 day moving average of $23.92. The company has a quick ratio of 2.34, a current ratio of 2.83 and a debt-to-equity ratio of 0.62. The firm has a market cap of $4.68 billion, a P/E ratio of 169.62 and a beta of 0.99.

Mirion Technologies (NYSE:MIR) last posted its earnings results on Tuesday, February 10th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Mirion Technologies had a return on equity of 6.97% and a net margin of 3.11%.The firm had revenue of $277.40 million during the quarter, compared to analyst estimates of $281.17 million. During the same quarter last year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Mirion Technologies has set its FY 2026 guidance at 0.500-0.570 EPS. On average, equities research analysts predict that Mirion Technologies, Inc. will post 0.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Mirion Technologies by 28.0% during the third quarter. Vanguard Group Inc. now owns 30,418,327 shares of the company’s stock worth $707,530,000 after acquiring an additional 6,651,735 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in Mirion Technologies by 174,900.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 17,500,000 shares of the company’s stock worth $407,050,000 after purchasing an additional 17,490,000 shares during the period. State Street Corp boosted its stake in Mirion Technologies by 4.3% in the 4th quarter. State Street Corp now owns 9,198,795 shares of the company’s stock worth $215,436,000 after purchasing an additional 382,449 shares during the period. Cooperman Leon G increased its holdings in Mirion Technologies by 17.7% during the 3rd quarter. Cooperman Leon G now owns 8,383,441 shares of the company’s stock worth $194,999,000 after purchasing an additional 1,258,441 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Mirion Technologies by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 5,786,596 shares of the company’s stock worth $135,545,000 after purchasing an additional 157,687 shares in the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

Mirion Technologies Company Profile

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.