Mirion Technologies (NYSE:MIR) Shares Gap Up Following Earnings Beat

Mirion Technologies, Inc. (NYSE:MIR)’s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $16.17, but opened at $16.72. Mirion Technologies shares last traded at $15.86, with a volume of 469,182 shares trading hands.

The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Mirion Technologies had a negative net margin of 7.84% and a positive return on equity of 4.33%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MIR. Robert W. Baird initiated coverage on Mirion Technologies in a research report on Thursday, December 19th. They issued an “outperform” rating and a $22.00 price objective on the stock. Baird R W upgraded shares of Mirion Technologies to a “strong-buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group boosted their price objective on shares of Mirion Technologies from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Citigroup lifted their target price on shares of Mirion Technologies from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $19.25.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. US Bancorp DE increased its stake in shares of Mirion Technologies by 3,248.7% during the fourth quarter. US Bancorp DE now owns 6,262 shares of the company’s stock valued at $109,000 after purchasing an additional 6,075 shares in the last quarter. Quest Partners LLC raised its stake in Mirion Technologies by 680.5% during the third quarter. Quest Partners LLC now owns 6,728 shares of the company’s stock valued at $74,000 after buying an additional 5,866 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Mirion Technologies in the fourth quarter worth $120,000. KBC Group NV boosted its holdings in Mirion Technologies by 39.2% in the fourth quarter. KBC Group NV now owns 8,002 shares of the company’s stock worth $140,000 after acquiring an additional 2,254 shares in the last quarter. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Mirion Technologies in the third quarter worth $111,000. 78.51% of the stock is owned by hedge funds and other institutional investors.

Mirion Technologies Price Performance

The firm has a fifty day moving average price of $17.00 and a two-hundred day moving average price of $14.07. The company has a quick ratio of 1.55, a current ratio of 2.16 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.82 billion, a P/E ratio of -48.35 and a beta of 0.73.

About Mirion Technologies

Mirion Technologies, Inc provides radiation detection, measurement, analysis, and monitoring products and services in the United States, Canada, the United Kingdom, France, Germany, Finland, China, Belgium, Netherlands, Estonia, South Korea, and Japan. It operates through two segments, Medical and Technologies.