Lord Abbett & CO. LLC Decreases Position in Mirion Technologies, Inc. (NYSE:MIR)

Lord Abbett & CO. LLC lowered its position in Mirion Technologies, Inc. (NYSE:MIR) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,387,535 shares of the company’s stock after selling 54,503 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Mirion Technologies were worth $15,360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MIR. American Century Companies Inc. increased its stake in shares of Mirion Technologies by 61.9% during the 2nd quarter. American Century Companies Inc. now owns 3,942,571 shares of the company’s stock worth $42,343,000 after purchasing an additional 1,507,101 shares in the last quarter. Corsair Capital Management L.P. boosted its stake in shares of Mirion Technologies by 83.9% during the 3rd quarter. Corsair Capital Management L.P. now owns 3,160,850 shares of the company’s stock worth $34,991,000 after purchasing an additional 1,441,846 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Mirion Technologies by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 6,111,933 shares of the company’s stock worth $65,642,000 after buying an additional 1,031,966 shares in the last quarter. Nicholas Investment Partners LP acquired a new position in shares of Mirion Technologies in the second quarter valued at approximately $5,223,000. Finally, Millennium Management LLC lifted its stake in shares of Mirion Technologies by 509.8% during the 2nd quarter. Millennium Management LLC now owns 533,534 shares of the company’s stock worth $5,730,000 after purchasing an additional 446,034 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.

Insider Transactions at Mirion Technologies

In other news, CEO Thomas D. Logan sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $14.11, for a total transaction of $105,825.00. Following the completion of the transaction, the chief executive officer now directly owns 1,544,017 shares of the company’s stock, valued at approximately $21,786,079.87. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Emmanuelle Lee sold 3,405 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $14.27, for a total value of $48,589.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,405 shares of company stock valued at $285,939. Insiders own 2.20% of the company’s stock.

Mirion Technologies Stock Performance

Mirion Technologies stock opened at $18.03 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.55 and a current ratio of 2.16. Mirion Technologies, Inc. has a one year low of $9.11 and a one year high of $18.67. The stock’s 50 day moving average price is $15.38 and its 200 day moving average price is $12.23. The firm has a market capitalization of $4.19 billion, a PE ratio of -53.03 and a beta of 0.76.

Mirion Technologies (NYSE:MIR) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $206.80 million for the quarter, compared to analysts’ expectations of $203.67 million. Mirion Technologies had a positive return on equity of 4.33% and a negative net margin of 7.84%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 earnings per share. As a group, sell-side analysts expect that Mirion Technologies, Inc. will post 0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. B. Riley initiated coverage on Mirion Technologies in a report on Thursday, September 26th. They issued a “buy” rating and a $14.00 price target for the company. The Goldman Sachs Group upped their price objective on Mirion Technologies from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Citigroup raised their price objective on Mirion Technologies from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th.

About Mirion Technologies

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.