Maverick Capital Ltd. Makes New Investment in Mirion Technologies, Inc. $MIR

Maverick Capital Ltd. acquired a new stake in Mirion Technologies, Inc. (NYSE:MIR) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,649,879 shares of the company’s stock, valued at approximately $49,261,000.

Several other hedge funds have also recently modified their holdings of MIR. Quantinno Capital Management LP boosted its stake in shares of Mirion Technologies by 269.5% in the 1st quarter. Quantinno Capital Management LP now owns 41,705 shares of the company’s stock worth $775,000 after buying an additional 30,419 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Mirion Technologies by 125.4% during the first quarter. Lazard Asset Management LLC now owns 322,421 shares of the company’s stock valued at $5,994,000 after acquiring an additional 179,358 shares during the last quarter. Themes Management Co LLC lifted its holdings in Mirion Technologies by 57.0% during the first quarter. Themes Management Co LLC now owns 38,837 shares of the company’s stock worth $722,000 after acquiring an additional 14,098 shares during the period. Entropy Technologies LP bought a new stake in Mirion Technologies during the first quarter worth $716,000. Finally, Gamco Investors INC. ET AL boosted its position in Mirion Technologies by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 544,662 shares of the company’s stock worth $10,125,000 after purchasing an additional 2,733 shares during the last quarter. Institutional investors own 78.51% of the company’s stock.

Insider Buying and Selling

In other Mirion Technologies news, CAO Christopher A. Moore sold 8,400 shares of Mirion Technologies stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $19.64, for a total transaction of $164,976.00. Following the completion of the sale, the chief accounting officer owned 22,157 shares of the company’s stock, valued at $435,163.48. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Mirion Technologies Trading Up 1.5%

Shares of Mirion Technologies stock opened at $16.80 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.19 and a quick ratio of 2.63. Mirion Technologies, Inc. has a 1 year low of $15.57 and a 1 year high of $30.28. The firm has a market cap of $4.21 billion, a PE ratio of 167.95 and a beta of 1.03. The company has a 50 day simple moving average of $17.31 and a two-hundred day simple moving average of $19.96.

Mirion Technologies (NYSE:MIR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Mirion Technologies had a net margin of 2.56% and a return on equity of 6.44%. The firm had revenue of $257.60 million for the quarter, compared to analyst estimates of $244.78 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. Analysts expect that Mirion Technologies, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MIR shares. The Goldman Sachs Group reduced their price objective on Mirion Technologies from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Robert W. Baird lowered their target price on Mirion Technologies from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. Weiss Ratings downgraded shares of Mirion Technologies from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, July 20th. Citigroup reduced their price target on shares of Mirion Technologies from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Morgan Stanley decreased their price objective on shares of Mirion Technologies from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Mirion Technologies presently has an average rating of “Moderate Buy” and an average price target of $27.00.

Mirion Technologies Profile

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.