We recently compiled a list of the Billionaire Lee Cooperman’s Top 15 Long-Term Stock Picks. In this article, we are going to take a look at where Mirion Technologies, Inc. (NYSE:MIR) stands against Lee Cooperman’s other long-term stock picks.
Leon Cooperman is a highly respected figure in the investment world, known for his acumen, philanthropy, and candid commentary on markets and economics. As the founder of Omega Advisors, Cooperman built a reputation as one of Wall Street’s most successful hedge fund managers. Leon Cooperman was born in New York in 1943 to working-class immigrant parents. His father was a plumber, and his mother was a homemaker. Cooperman earned his undergraduate degree from Hunter College in 1964 and later pursued an MBA at Columbia Business School. Cooperman began his professional journey at Goldman Sachs, where he worked for 25 years.
He joined the firm as an analyst and rose through the ranks to lead the Asset Management division. His tenure at Goldman Sachs was marked by significant achievements, including his role in expanding the firm’s institutional investment management services. In 1991, Cooperman left Goldman Sachs to establish Omega Advisors, a hedge fund specializing in value-oriented investing. He built the firm on principles of thorough research, disciplined risk management, and a long-term investment horizon. Under his leadership, Omega Advisors delivered strong returns, earning a reputation as one of the most successful hedge funds in the industry.
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At its height, Omega Advisors managed approximately $10 billion in assets, attracting institutional investors and high-net-worth individuals. In 2018, when Cooperman transitioned the firm into a family office, Omega Advisors had around $3.6 billion in AUM. Over its 27 years as a hedge fund, Omega Advisors achieved annualized returns of approximately 12%, outperforming many of its peers and major indices during key periods. During bullish market cycles, Cooperman’s ability to identify undervalued stocks enabled the fund to outperform benchmarks like the S&P 500, which has an average historical return of around 10% annually. For instance, in the late 1990s and early 2000s, Cooperman’s investments in financials, industrials, and energy sectors delivered double-digit gains.
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For this article, we selected stocks by combing through the 13F portfolio of Omega Advisors at the end of the third quarter of 2024. Only the companies that have been in the 13F portfolio of the fund consistently for the past three years were selected. These stocks are also popular among other hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A radiation oncologist overseeing the delivery of radiation therapy to a patient.
Mirion Technologies, Inc. (NYSE:MIR)
Number of Hedge Fund Holders: 31
Omega Advisors’ Stake: $88.8 million
Mirion Technologies, Inc. (NYSE:MIR) is a global leader in radiation safety, science and medicine, with a diverse portfolio of products and services that protect people from the harmful effects of ionizing radiation. This company presents a promising opportunity for investment, backed by multiple factors. Firstly, according to the report of the third quarter of 2024, GAAP net loss per share for the third quarter was $0.07, compared to $0.06 in the third quarter of 2023, and adjusted earnings per share for the quarter was $0.08, compared to $0.05 in the same period last year. Also, Adjusted EBITDA was $45.7 million, a 17.8% increase from $38.8 million in the same period last year. This demonstrates that despite the slight net loss, a strong improvement in adjusted earnings per share was seen, which indicates better operational performance. Secondly, the company was awarded strategic contracts for Sizewell C’s new nuclear power station project in the UK, which would help the company contribute more to reliable energy solutions for the future and attract investors.
Overall MIR ranks 8th on our list of Lee Cooperman’s top long-term stock picks. While we acknowledge the potential of MIR as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than MIR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
