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

Shares of Mirion Technologies, Inc. (NYSE:MIR) dropped 4.2% on Wednesday . The stock traded as low as $18.50 and last traded at $18.4380. Approximately 1,018,512 shares were traded 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 equities research analysts recently issued reports on MIR shares. Citigroup dropped their target price on Mirion Technologies from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Evercore began coverage on Mirion Technologies in a research report on Tuesday, November 25th. They set an “outperform” rating and a $29.00 price target for the company. Morgan Stanley decreased their price target on shares of 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. JPMorgan Chase & Co. lowered their price objective on shares of Mirion Technologies from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, March 9th. Finally, The Goldman Sachs Group reduced their target price on shares of Mirion Technologies from $33.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.63.

Mirion Technologies Stock Down 3.0%

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

Hedge Funds Weigh In On Mirion Technologies

A number of institutional investors have recently added to or reduced their stakes in MIR. Advisory Services Network LLC bought a new stake in Mirion Technologies during the third quarter worth $25,000. Wolff Wiese Magana LLC acquired a new position in shares of Mirion Technologies during the 3rd quarter worth about $26,000. Salomon & Ludwin LLC bought a new stake in shares of Mirion Technologies in the 3rd quarter valued at about $30,000. UMB Bank n.a. raised its holdings in shares of Mirion Technologies by 175.4% in the 4th 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 period. Finally, Fortress Investment Group LLC acquired a new stake in Mirion Technologies in the 2nd quarter valued at about $32,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

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.