Trinity Biotech plc (NASDAQ:TRIB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Trinity Biotech plc, headquartered in Bray, the Republic of Ireland, develops, acquires, manufactures, and markets medical diagnostic products for the clinical laboratory and point-of-care (POC) segments of the diagnostic market worldwide. The company provides two haemostasis product lines, Biopool and Amax, comprising test kits and instrumentation used for the detection of blood disorders. These products are used to detect autoimmune, infectious and sexually transmitted diseases, diabetes and disorders of the blood, liver and intestine. The Company is also a provider of raw materials to the life sciences industry. It also engages in the provision of engineering, financial, and management services, as well as in trading business. Trinity Biotech sells its products through its sales force, as well as through a network of distributors and strategic partners. “

Shares of Trinity Biotech plc (NASDAQ:TRIB) opened at 12.75 on Thursday. Trinity Biotech plc has a one year low of $9.20 and a one year high of $13.68. The stock has a market cap of $293.45 million, a P/E ratio of 54.26 and a beta of 0.92. The stock has a 50 day moving average of $12.83 and a 200 day moving average of $11.74.

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Trinity Biotech plc (NASDAQ:TRIB) last announced its earnings results on Thursday, July 21st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm earned $26.30 million during the quarter, compared to analysts’ expectations of $24.30 million. Equities analysts expect that Trinity Biotech plc will post $0.14 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in TRIB. Janus Capital Management LLC increased its position in shares of Trinity Biotech plc by 1.3% in the second quarter. Janus Capital Management LLC now owns 1,432,059 shares of the company’s stock valued at $16,240,000 after buying an additional 17,940 shares during the period. State Street Corp increased its position in shares of Trinity Biotech plc by 100.7% in the second quarter. State Street Corp now owns 34,953 shares of the company’s stock valued at $396,000 after buying an additional 17,539 shares during the period. Raymond James & Associates increased its position in shares of Trinity Biotech plc by 5.3% in the second quarter. Raymond James & Associates now owns 29,823 shares of the company’s stock valued at $338,000 after buying an additional 1,489 shares during the period. US Bancorp DE increased its position in shares of Trinity Biotech plc by 7.6% in the second quarter. US Bancorp DE now owns 350,070 shares of the company’s stock valued at $3,970,000 after buying an additional 24,857 shares during the period. Finally, Benchmark Capital Advisors increased its position in shares of Trinity Biotech plc by 9.0% in the second quarter. Benchmark Capital Advisors now owns 91,041 shares of the company’s stock valued at $1,032,000 after buying an additional 7,500 shares during the period.

About Trinity Biotech plc

Trinity Biotech plc (Trinity Biotech) develops, acquires, manufactures and markets medical diagnostic products for the clinical laboratory and point-of-care (POC) segments of the diagnostic market. The Company’s products are used to detect autoimmune, infectious and sexually transmitted diseases, diabetes, and disorders of the liver and intestine.

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