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MIR · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Mirion Technologies, Inc. (MIR) stock moving?
Mirion shares rose about 25% from 15.41 on Oct 27, when the company reported fiscal Q3 results, to 19.26 on Nov 10, with the sharpest gains on Oct 28 (+8.7% on 11.0M shares) and Oct 29 (+11.4% on 8.7M shares). The stock then fell 8.2% on Nov 4 on 5.6M shares and bottomed at 17.13 on Nov 5, before recovering to 19.48 on Nov 9 and closing at 19.26 on Nov 10. Volume has eased from the late-October peak, and the recent pullback held above the Oct 27 close. The news flow is mostly constructive: B. Riley kept its Buy rating and set a $25 target, roughly 30% above the latest close, and management is presenting at the Baird conference. The Simon product launch is a minor commercial item. The filings confirm that Q3 results were released on Oct 27, but the source text provided does not include the reported figures, guidance or the 10-Q contents, so the quality of the quarter cannot be verified from the material available. The main risks are the unverified results detail, the trimmed price target and the sharp reversal on Nov 4.
News behind the analysis
- Mirion to Present at Baird's 2026 Global Industrial ConferenceMirion announced that its top executives will present at the upcoming Baird 2026 Global Industrial Conference.
- Sun Nuclear, a Mirion Medical company, launches Simon™ command center for radiation oncologySun Nuclear, a Mirion division, launched Simon™, a cloud-native command center that monitors linear accelerator health in radiation oncology.
- B. Riley Securities Maintains Buy Rating on Mirion Technologies, Lowers Price Target to $25B. Riley Securities reaffirmed its Buy rating and cut its price target from $27 to $25, still well above the recent share price near $19.
- B. Riley Securities Reiterates Buy on Mirion Technologies, Lowers Price Target to $25Benzinga reports the same B. Riley Buy reiteration with the price target lowered to $25.
About Mirion Technologies, Inc.
Mirion Technologies, based in Atlanta, makes equipment, software and services that detect, measure and monitor radiation for nuclear power, medical, defense and research customers. It is one of the purest listed ways to get exposure to nuclear power plant spending, and it has added to that business by buying Paragon and Certrec.
How it makes money
Mirion has two segments. Nuclear & Safety sells radiation monitoring instruments, reactor instrumentation, personal radiation detectors for military and first responders, and lab analysis tools, plus the services and software that go with them. It brought in about 70% of revenue in the first nine months of 2026. Medical makes up the other roughly 30%. It sells radiation therapy quality-assurance software and equipment, nuclear medicine products and dosimetry services, which measure how much radiation workers have been exposed to. Nine-month 2026 revenue was about $800 million. Much of the business comes from recurring services and from replacing equipment it has already installed. The order backlog was about $1.25 billion as of September 30, 2026.
What usually moves MIR
- Spending on existing nuclear reactors and new nuclear builds
- Order and backlog growth, and how quickly backlog turns into revenue
- Cancer-care and radiation-therapy equipment budgets
- Defense and homeland-security spending
- Profit margins, acquisition integration and debt levels