Mirion Technologies (NYSE:MIR) Trading Down 6.8% Following Insider Selling

Mirion Technologies, Inc. (NYSE:MIR)’s stock price was down 6.8% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $20.75 and last traded at $20.62. Approximately 1,305,568 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 2,534,381 shares. The stock had previously closed at $22.13.

Specifically, CEO Thomas D. Logan sold 325,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $21.31, for a total transaction of $6,925,750.00. Following the completion of the transaction, the chief executive officer owned 3,742,305 shares of the company’s stock, valued at approximately $79,748,519.55. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

MIR has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Mirion Technologies from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, July 14th. B. Riley reissued a “buy” rating and issued a $22.00 target price (up previously from $17.00) on shares of Mirion Technologies in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Mirion Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Robert W. Baird upped their target price on shares of Mirion Technologies from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $22.25.

Mirion Technologies Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 2.54 and a quick ratio of 2.01. The stock has a market capitalization of $4.84 billion, a P/E ratio of 689.33 and a beta of 0.83. The company’s 50 day simple moving average is $20.96 and its two-hundred day simple moving average is $17.52.

Mirion Technologies (NYSE:MIR) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $222.90 million for the quarter, compared to analysts’ expectations of $216.78 million. Mirion Technologies had a net margin of 1.12% and a return on equity of 6.57%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. As a group, equities analysts expect that Mirion Technologies, Inc. will post 0.39 EPS for the current fiscal year.

Institutional Trading of Mirion Technologies

Several large investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Mirion Technologies by 1.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 20,710,389 shares of the company’s stock valued at $300,301,000 after purchasing an additional 322,243 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Mirion Technologies by 2.8% during the fourth quarter. Janus Henderson Group PLC now owns 8,330,495 shares of the company’s stock valued at $145,367,000 after purchasing an additional 229,718 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Mirion Technologies by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 7,363,954 shares of the company’s stock valued at $106,779,000 after purchasing an additional 178,260 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Mirion Technologies by 45.9% during the first quarter. Brown Advisory Inc. now owns 5,560,461 shares of the company’s stock valued at $80,627,000 after purchasing an additional 1,748,437 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in shares of Mirion Technologies by 10.3% during the first quarter. Alyeska Investment Group L.P. now owns 4,150,262 shares of the company’s stock valued at $60,179,000 after purchasing an additional 388,947 shares during the last quarter. 78.51% of the stock is owned by institutional investors.

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.