Massachusetts Financial Services Co. MA Purchases 1,558,104 Shares of Mirion Technologies, Inc. $MIR

Massachusetts Financial Services Co. MA grew its position in shares of Mirion Technologies, Inc. (NYSE:MIR) by 40.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,391,772 shares of the company’s stock after buying an additional 1,558,104 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.30% of Mirion Technologies worth $125,413,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Maryland State Retirement & Pension System purchased a new stake in shares of Mirion Technologies during the third quarter valued at approximately $824,000. Wolff Wiese Magana LLC bought a new position in Mirion Technologies in the 3rd quarter valued at $26,000. Conestoga Capital Advisors LLC purchased a new stake in shares of Mirion Technologies during the 3rd quarter valued at $31,443,000. New York State Teachers Retirement System purchased a new stake in shares of Mirion Technologies during the 3rd quarter valued at $1,269,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Mirion Technologies by 76.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 417,790 shares of the company’s stock worth $9,718,000 after purchasing an additional 181,450 shares during the period. 78.51% of the stock is owned by institutional investors.

Mirion Technologies Price Performance

MIR opened at $26.27 on Wednesday. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 238.79 and a beta of 0.95. The company has a quick ratio of 4.32, a current ratio of 4.83 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $24.86 and a 200-day moving average price of $23.57. Mirion Technologies, Inc. has a twelve month low of $12.00 and a twelve month high of $30.28.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MIR. Weiss Ratings restated a “hold (c)” rating on shares of Mirion Technologies in a research report on Wednesday, October 8th. Evercore ISI initiated coverage on shares of Mirion Technologies in a research note on Tuesday, November 25th. They issued an “outperform” rating and a $29.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Mirion Technologies from $28.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Robert W. Baird lifted their price target on shares of Mirion Technologies from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Finally, Northland Securities upped their price objective on Mirion Technologies from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $28.29.

Insider Activity at Mirion Technologies

In other news, Director Lawrence D. Kingsley sold 350,000 shares of the firm’s stock in a transaction on 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 directly owned 3,509,075 shares of the company’s stock, valued at $86,779,424.75. This trade represents a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by insiders.

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.