Mirion Technologies (NYSE:MIR) Trading Down 15.8% – Time to Sell?

Shares of Mirion Technologies, Inc. (NYSE:MIR) were down 15.8% during mid-day trading on Monday . The company traded as low as $15.49 and last traded at $15.24. Approximately 723,076 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 1,755,098 shares. The stock had previously closed at $18.11.

Analyst Ratings Changes

MIR has been the topic of several analyst reports. Robert W. Baird assumed coverage on Mirion Technologies in a report on Thursday, December 19th. They set an “outperform” rating and a $22.00 target price on the stock. The Goldman Sachs Group lifted their price objective on shares of Mirion Technologies from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Baird R W upgraded shares of Mirion Technologies to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Citigroup lifted their price target on shares of Mirion Technologies from $18.00 to $20.00 and gave the stock 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 company. Based on data from MarketBeat.com, Mirion Technologies has an average rating of “Buy” and an average price target of $19.25.

Mirion Technologies Price Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.55 and a current ratio of 2.16. The company has a 50 day moving average price of $17.10 and a 200 day moving average price of $13.71.

Mirion Technologies (NYSE:MIR) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $206.80 million for the quarter, compared to the consensus estimate of $203.67 million. Mirion Technologies had a negative net margin of 7.84% and a positive return on equity of 4.33%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 earnings per share. As a group, analysts forecast that Mirion Technologies, Inc. will post 0.33 earnings per share for the current year.

Insider Transactions at Mirion Technologies

In other news, insider Emmanuelle Lee sold 3,405 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $14.27, for a total value of $48,589.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Mirion Technologies

A number of hedge funds have recently added to or reduced their stakes in MIR. State Street Corp raised its holdings in shares of Mirion Technologies by 2.7% during the third quarter. State Street Corp now owns 5,365,728 shares of the company’s stock worth $59,399,000 after purchasing an additional 138,648 shares during the period. Geode Capital Management LLC raised its stake in Mirion Technologies by 3.4% during the third quarter. Geode Capital Management LLC now owns 4,502,455 shares of the company’s stock worth $49,851,000 after acquiring an additional 147,408 shares during the period. Corsair Capital Management L.P. lifted its holdings in Mirion Technologies by 83.9% in the third quarter. Corsair Capital Management L.P. now owns 3,160,850 shares of the company’s stock worth $34,991,000 after acquiring an additional 1,441,846 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in Mirion Technologies by 8.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,000,060 shares of the company’s stock valued at $33,211,000 after acquiring an additional 241,334 shares during the period. Finally, Artemis Investment Management LLP bought a new position in shares of Mirion Technologies during the fourth quarter valued at approximately $38,155,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

Mirion Technologies Company Profile

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.