Mirion Technologies (NYSE:MIR) Shares Gap Up on Better-Than-Expected Earnings

Mirion Technologies, Inc. (NYSE:MIR - Get Free Report) gapped up before the market opened on Wednesday following a better than expected earnings announcement. 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.

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 negative net margin of 7.84% and a positive return on equity of 4.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Baird R W raised shares of Mirion Technologies to a "strong-buy" rating in a research report on Thursday, December 19th. The Goldman Sachs Group increased their price target on Mirion Technologies from $16.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Citigroup increased their price target on Mirion Technologies from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird started coverage on shares of Mirion Technologies in a report on Thursday, December 19th. They set an "outperform" rating and a $22.00 target price on the stock. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $19.25.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MIR. Envestnet Asset Management Inc. lifted its stake in shares of Mirion Technologies by 4.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,386 shares of the company's stock worth $338,000 after buying an additional 865 shares during the last quarter. Swiss National Bank grew its position in shares of Mirion Technologies by 0.5% in the fourth quarter. Swiss National Bank now owns 376,800 shares of the company's stock valued at $6,575,000 after purchasing an additional 2,000 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Mirion Technologies by 10.4% in the fourth quarter. Ameritas Investment Partners Inc. now owns 21,611 shares of the company's stock valued at $377,000 after purchasing an additional 2,031 shares during the last quarter. Xponance Inc. grew its position in shares of Mirion Technologies by 15.9% in the fourth quarter. Xponance Inc. now owns 14,942 shares of the company's stock valued at $261,000 after purchasing an additional 2,048 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Mirion Technologies by 39.2% in the fourth quarter. KBC Group NV now owns 8,002 shares of the company's stock valued at $140,000 after purchasing an additional 2,254 shares during the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

Mirion Technologies Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.16 and a quick ratio of 1.55. The firm has a 50-day moving average price of $16.92 and a 200 day moving average price of $14.16.

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.