Mirion Tech (MIR) was alerted this week with very unusual options action as 2500 March $12.50 calls were bought and 7000 February $15 calls were bought on 10/8.

MIR shares are up 27% YTD and up 36% in a month with a huge weekly consolidation breakout and trading to record highs this week with Fibonacci extension targets at $13.50, $14.50 and $16.

Mirion’s Medical segment supports applications in medical diagnostics, cancer treatment, practitioner safety, and rehabilitation. The Technologies segment is focused on addressing critical radiation safety, measurement and analysis applications across nuclear energy, defense, laboratories and research and other industrial markets. Its software and services have been sold directly and indirectly to a variety of end-use customers, including medical service providers, the vast majority of the U.S. nuclear power producers, and the addressable global installed base of active nuclear power reactors, many of the leading nuclear reactor design firms, universities, numerous international government and supranational agencies, 19 of the 31 NATO militaries, national laboratories, environmental laboratories, research institutes, and industrial companies. Its products and solutions are in use in over 130 countries and 80% of cancer centers worldwide, including all top 100 Cancer Centers in the United States. The nuclear end market spans the entire nuclear fuel cycle, including mining, enrichment, fuel manufacturing, nuclear power generation, waste management and fuel reprocessing. Key nuclear installations include mines, fuel fabrication facilities, commercial nuclear power reactors, reprocessing facilities, research facilities, and waste storage facilities.

The use of radio diagnostic and radiotherapeutic procedures is expanding globally due to aging population demographics, technological advancements and emerging middle classes in developing economies. As the use of radiological procedures increases in the medical industry, so does the associated market opportunity for MIR’s products that are deployed in hospitals, clinics, and other diagnostic and therapeutic centers around the world. The global nuclear medicine market is expected to grow approximately 4% per year from 2022 through 2028, primarily driven by the increase in the prevalence and incidences of cancer worldwide. The global radiotherapy market is expected to grow approximately 7% per year from 2022 through 2028, primarily driven by factors including growing awareness about the benefits of radiotherapy for cancer control and eradication, increasing incidence and prevalence of cancer, and technological advancements in the field of radiotherapy.

MIR has a market cap of $3B and trades 26.7X Earnings, 16X EBITDA, 3.7X Sales and 46.3X FCF. Forecasts see 5-7% annual revenue growth with 10-12% annual EBITDA growth. MIR has a healthy balance sheet and margins are in the 80^th percentile of its 10-year range. MIR is a sneaky winner from the rising electricity demand for AI and Data Centers with commercial nuclear power builds. Mirion signed a strategic partnership agreement with EDF, the largest operator of nuclear power plants in the world, making Mirion an exclusive content supplier for all of their nuclear new build projects spanning the next two decades. This fortifies its competitive positioning in the new build arena over the coming decades, where MIR expects to see significant global development. MIR is also an improving execution story and targeting 30% margins.