Louisiana State Employees Retirement System Buys New Shares in Mirion Technologies, Inc. $MIR

Louisiana State Employees Retirement System purchased a new position in Mirion Technologies, Inc. (NYSE:MIR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 104,800 shares of the company’s stock, valued at approximately $2,438,000.

Several other large investors have also made changes to their positions in MIR. Invesco Ltd. boosted its stake in shares of Mirion Technologies by 713.2% in the second quarter. Invesco Ltd. now owns 2,617,252 shares of the company’s stock worth $56,349,000 after acquiring an additional 2,295,414 shares during the period. Loomis Sayles & Co. L P bought a new position in Mirion Technologies in the 2nd quarter worth approximately $34,269,000. Hood River Capital Management LLC bought a new position in Mirion Technologies in the 2nd quarter worth approximately $31,655,000. Groupama Asset Managment purchased a new stake in Mirion Technologies during the 2nd quarter valued at approximately $17,224,000. Finally, Bank of America Corp DE raised its position in shares of Mirion Technologies by 135.0% during the second quarter. Bank of America Corp DE now owns 1,383,213 shares of the company’s stock valued at $29,781,000 after buying an additional 794,591 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore ISI assumed coverage on shares of Mirion Technologies in a research report on Tuesday, November 25th. They set an “outperform” rating and a $29.00 target price for the company. The Goldman Sachs Group increased their price objective on shares of Mirion Technologies from $22.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. JPMorgan Chase & Co. raised their price objective on Mirion Technologies from $28.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Citigroup decreased their target price on Mirion Technologies from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, December 8th. Finally, Northland Securities raised their price target on Mirion Technologies from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Mirion Technologies presently has an average rating of “Buy” and a consensus price target of $28.29.

Insider Buying and Selling

In other news, Director Lawrence D. Kingsley sold 350,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $24.73, for a total value of $8,655,500.00. Following the completion of the sale, the director owned 3,509,075 shares in the company, valued at approximately $86,779,424.75. The trade was a 9.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.30% of the company’s stock.

Mirion Technologies Stock Up 7.2%

Shares of NYSE:MIR opened at $26.02 on Friday. The company has a quick ratio of 4.32, a current ratio of 4.83 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $25.02 and its 200 day moving average is $23.26. The stock has a market cap of $6.60 billion, a P/E ratio of 236.53 and a beta of 0.95. Mirion Technologies, Inc. has a 52-week low of $12.00 and a 52-week high of $30.28.

Mirion Technologies (NYSE:MIR) last issued its earnings results on Tuesday, October 28th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $222.17 million. Mirion Technologies had a return on equity of 7.09% and a net margin of 2.93%.The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 EPS. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. Sell-side analysts predict that Mirion Technologies, Inc. will post 0.39 EPS for the current year.

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.