Morgan Stanley Begins Coverage on Mirion Technologies (NYSE:MIR)

Morgan Stanley began coverage on shares of Mirion Technologies (NYSE:MIR) in a note issued to investors on Friday, MarketBeat reports. The brokerage set an “equal weight” rating and a $29.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 13.52% from the stock’s previous close.

MIR has been the topic of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Mirion Technologies in a report on Wednesday, October 8th. Northland Securities increased their price objective on Mirion Technologies from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Robert W. Baird raised their price objective on Mirion Technologies from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Citigroup reduced their target price on shares of Mirion Technologies from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Mirion Technologies from $28.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Mirion Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $28.38.

Mirion Technologies Trading Down 4.3%

NYSE MIR opened at $25.55 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.83 and a quick ratio of 4.32. The business’s fifty day moving average is $24.92 and its 200-day moving average is $23.67. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 232.27 and a beta of 0.95. Mirion Technologies has a one year low of $12.00 and a one year high of $30.28.

Mirion Technologies (NYSE:MIR) last posted its earnings results on Tuesday, October 28th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Mirion Technologies had a net margin of 2.93% and a return on equity of 7.09%. The firm had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $222.17 million. During the same period last year, the company posted $0.08 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Mirion Technologies has set its FY 2025 guidance at 0.480-0.520 EPS. Equities research analysts predict that Mirion Technologies will post 0.39 EPS for the current year.

Insider Buying and Selling at Mirion Technologies

In other news, Director Lawrence D. Kingsley sold 350,000 shares of Mirion Technologies stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $24.73, for a total value of $8,655,500.00. Following the completion of the transaction, the director owned 3,509,075 shares of the company’s stock, valued at $86,779,424.75. The trade was a 9.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in shares of Mirion Technologies during the third quarter valued at approximately $25,000. Wolff Wiese Magana LLC purchased a new stake in Mirion Technologies during the 3rd quarter valued at $26,000. Salomon & Ludwin LLC bought a new stake in shares of Mirion Technologies in the 3rd quarter worth $30,000. Fortress Investment Group LLC bought a new stake in shares of Mirion Technologies in the 2nd quarter worth $32,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Mirion Technologies by 470.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company’s stock valued at $35,000 after purchasing an additional 1,354 shares in the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

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.