Mirion Technologies, Inc. (MIR) has reached an impressive milestone, with its stock price soaring to an all-time high of $17.07, just shy of its 52-week high of $17.03. According to InvestingPro data, the company maintains a healthy financial position with a current ratio of 2.16, indicating strong liquidity. This peak represents a significant achievement for the company, reflecting a robust performance and growing investor confidence. Over the past year, Mirion Technologies has witnessed a remarkable surge in its stock value, with a 1-year change showing an 89.76% increase, supported by revenue growth of 6.15%. InvestingPro's Fair Value analysis suggests the stock may be trading above its intrinsic value. This substantial growth underscores the company's strong market position and the successful execution of its strategic initiatives, which have resonated well with both customers and investors. The all-time high milestone is a testament to Mirion Technologies' momentum and the positive outlook for its future prospects, with InvestingPro indicating an overall GOOD Financial Health Score and revealing 10+ additional insights available to subscribers.
In other recent news, Mirion Technologies has reported an 8% increase in Q3 2024 revenue, reaching $207 million, with an adjusted EPS of $0.08. Despite a 30% drop in third-quarter orders year-over-year, significant growth was observed in the nuclear power and cancer care markets. Goldman Sachs and Citi have both updated their price targets for Mirion, reflecting a positive view on the company's growing momentum in nuclear new builds. Furthermore, Mirion has secured two major contracts for the Sizewell C project, contributing to its active bid pipeline of approximately $300-$400 million for large projects expected to convert into orders by the end of 2025. However, the company faced a setback with the de-booking of a Turkish new build award valued at $21 million due to contractual disputes. Mirion Technologies reaffirmed its full-year 2024 adjusted EBITDA guidance of $195 million to $205 million and its EPS forecast of $0.37 to $0.42. These are among the recent developments at Mirion Technologies.
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