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

Mirion Technologies, Inc. (NYSE:MIR) shares were down 4.2% during trading on Wednesday . The company traded as low as $18.50 and last traded at $18.4380. Approximately 1,018,512 shares changed 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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MIR. Morgan Stanley cut their price target on shares of Mirion Technologies from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 11th. Melius Research raised Mirion Technologies to a “strong-buy” rating in a report on Monday. JPMorgan Chase & Co. lowered their target price on Mirion Technologies from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group cut their price objective on shares of Mirion Technologies from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Finally, Citigroup reduced their price target on Mirion Technologies from $32.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Mirion Technologies Price Performance

The stock has a market capitalization of $4.57 billion, a PE ratio of 165.92 and a beta of 0.99. The stock’s 50 day moving average price is $22.35 and its 200-day moving average price is $23.85. The company has a quick ratio of 2.34, a current ratio of 2.83 and a debt-to-equity ratio of 0.62.

Mirion Technologies (NYSE:MIR) last announced its quarterly 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). The firm had revenue of $277.40 million for the quarter, compared to analyst estimates of $281.17 million. Mirion Technologies had a net margin of 3.11% and a return on equity of 6.97%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. Mirion Technologies has set its FY 2026 guidance at 0.500-0.570 EPS. As a group, equities analysts forecast that Mirion Technologies, Inc. will post 0.39 EPS for the current year.

Institutional Trading of Mirion Technologies

Several hedge funds have recently made changes to their positions in MIR. Tudor Investment Corp ET AL raised its stake in shares of Mirion Technologies by 174,900.0% in the third quarter. Tudor Investment Corp ET AL now owns 17,500,000 shares of the company’s stock valued at $407,050,000 after acquiring an additional 17,490,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in Mirion Technologies by 28.0% in the third quarter. Vanguard Group Inc. now owns 30,418,327 shares of the company’s stock valued at $707,530,000 after acquiring an additional 6,651,735 shares in the last quarter. Two Creeks Capital Management LP purchased a new position in Mirion Technologies in the third quarter worth approximately $83,707,000. UBS Group AG grew its holdings in Mirion Technologies by 181.4% during the 3rd quarter. UBS Group AG now owns 4,796,833 shares of the company’s stock worth $111,574,000 after acquiring an additional 3,092,136 shares in the last quarter. Finally, TCW Group Inc. purchased a new stake in shares of Mirion Technologies in the 4th quarter valued at approximately $57,439,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

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.