Trinity Biotech PLC (TRIB) Issues Quarterly Earnings Results
Trinity Biotech PLC (NASDAQ:TRIB) issued its quarterly earnings results on Thursday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by $0.03, Morningstar.com reports. The business had revenue of $25.45 million during the quarter, compared to analyst estimates of $24.83 million. Trinity Biotech PLC had a positive return on equity of 5.00% and a negative net margin of 98.39%.
Shares of Trinity Biotech PLC (NASDAQ TRIB) traded down 1.22% during midday trading on Friday, reaching $6.05. The company’s stock had a trading volume of 15,297 shares. The stock’s 50-day moving average price is $5.85 and its 200-day moving average price is $5.94. The company’s market cap is $133.72 million. Trinity Biotech PLC has a 12-month low of $5.20 and a 12-month high of $13.68.
TRIB has been the subject of several recent analyst reports. Zacks Investment Research raised Trinity Biotech PLC from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Wednesday, May 17th. ValuEngine downgraded Trinity Biotech PLC from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE increased its position in Trinity Biotech PLC by 3.1% in the first quarter. US Bancorp DE now owns 352,184 shares of the company’s stock worth $2,099,000 after buying an additional 10,458 shares during the last quarter. Heartland Advisors Inc. boosted its stake in shares of Trinity Biotech PLC by 0.8% in the first quarter. Heartland Advisors Inc. now owns 1,545,550 shares of the company’s stock worth $9,211,000 after buying an additional 11,800 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Trinity Biotech PLC by 122.3% in the first quarter. Wedbush Securities Inc. now owns 29,350 shares of the company’s stock worth $175,000 after buying an additional 16,150 shares during the period. Sawtooth Solutions LLC purchased a new stake in shares of Trinity Biotech PLC during the first quarter worth about $103,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Trinity Biotech PLC during the fourth quarter worth about $170,000. Institutional investors and hedge funds own 66.30% of the company’s stock.
Trinity Biotech PLC Company Profile
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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