Morgan Stanley Has Lowered Expectations for Mirion Technologies (NYSE:MIR) Stock Price

Mirion Technologies (NYSE:MIR) had its price objective cut by stock analysts at Morgan Stanley from $29.00 to $27.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 34.62% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Mirion Technologies from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday. Citigroup reduced their price target on shares of Mirion Technologies from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. The Goldman Sachs Group decreased their price target on Mirion Technologies from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, Evercore initiated coverage on Mirion Technologies in a research note on Tuesday, November 25th. They set an “outperform” rating and a $29.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.63.

Mirion Technologies Stock Performance

Mirion Technologies stock opened at $20.06 on Wednesday. The stock has a market cap of $5.02 billion, a P/E ratio of 182.35 and a beta of 0.99. The company has a current ratio of 2.83, a quick ratio of 2.34 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $23.66 and a 200-day moving average of $23.98. Mirion Technologies has a 52 week low of $12.00 and a 52 week high of $30.28.

Mirion Technologies (NYSE:MIR) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The company had revenue of $277.40 million for the quarter, compared to analyst estimates of $281.17 million. Mirion Technologies had a return on equity of 6.97% and a net margin of 3.11%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 EPS. Mirion Technologies has set its FY 2026 guidance at 0.500-0.570 EPS. On average, analysts expect that Mirion Technologies will post 0.39 EPS for the current fiscal year.

Institutional Trading of Mirion Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans purchased a new stake in Mirion Technologies during the third quarter valued at about $4,182,000. JPMorgan Chase & Co. grew its holdings in shares of Mirion Technologies by 187.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 825,269 shares of the company’s stock valued at $17,768,000 after acquiring an additional 537,900 shares in the last quarter. Rhumbline Advisers boosted its position in Mirion Technologies by 91.1% during the third quarter. Rhumbline Advisers now owns 608,834 shares of the company’s stock valued at $14,161,000 after purchasing an additional 290,232 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Mirion Technologies in the third quarter valued at about $2,438,000. Finally, New York State Teachers Retirement System purchased a new position in Mirion Technologies in the third quarter valued at about $1,269,000. 78.51% of the stock is currently owned by 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.