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

Mirion Technologies, Inc. (NYSE:MIR) shares gapped up before the market opened on Wednesday following a stronger than expected earnings report. 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 traded.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Mirion Technologies

Hedge funds have recently bought and sold shares of the business. Quest Partners LLC grew its stake in Mirion Technologies by 680.5% during the 3rd quarter. Quest Partners LLC now owns 6,728 shares of the company’s stock valued at $74,000 after purchasing an additional 5,866 shares in the last quarter. US Bancorp DE grew its stake in Mirion Technologies by 3,248.7% during the 4th 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. SkyView Investment Advisors LLC acquired a new stake in Mirion Technologies during the 3rd quarter valued at approximately $111,000. Integrated Advisors Network LLC acquired a new stake in Mirion Technologies during the 3rd quarter valued at approximately $120,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Mirion Technologies in the 4th quarter worth approximately $120,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

Mirion Technologies Trading Down 1.5 %

The company has a market cap of $3.70 billion, a price-to-earnings ratio of -46.86 and a beta of 0.73. The firm has a 50-day moving average price of $17.02 and a 200 day moving average price of $14.03. The company has a current ratio of 2.16, a quick ratio of 1.55 and a debt-to-equity ratio of 0.43.

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.