Trinity Biotech (NASDAQ:TRIB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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 (TRIB) traded down $0.04 during trading on Wednesday, hitting $5.02. The company’s stock had a trading volume of 51,352 shares, compared to its average volume of 58,483. Trinity Biotech has a 12 month low of $4.22 and a 12 month high of $7.20. The company has a market capitalization of $120.92, a P/E ratio of -0.29 and a beta of 1.40. The company has a quick ratio of 3.77, a current ratio of 5.16 and a debt-to-equity ratio of 0.90.

Trinity Biotech (NASDAQ:TRIB) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. Trinity Biotech had a positive return on equity of 5.87% and a negative net margin of 100.00%. The company had revenue of $25.60 million during the quarter, compared to the consensus estimate of $25.52 million. equities research analysts expect that Trinity Biotech will post 0.06 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Trinity Biotech by 2.1% in the second quarter. State Street Corp now owns 37,614 shares of the company’s stock worth $225,000 after acquiring an additional 781 shares in the last quarter. Adirondack Research & Management Inc. increased its holdings in shares of Trinity Biotech by 4.1% in the third quarter. Adirondack Research & Management Inc. now owns 334,175 shares of the company’s stock worth $1,875,000 after acquiring an additional 13,191 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Trinity Biotech by 19.4% in the second quarter. Russell Investments Group Ltd. now owns 457,577 shares of the company’s stock worth $2,745,000 after acquiring an additional 74,374 shares in the last quarter. Hunter Associates Investment Management LLC increased its holdings in shares of Trinity Biotech by 29.0% in the second quarter. Hunter Associates Investment Management LLC now owns 599,600 shares of the company’s stock worth $3,598,000 after acquiring an additional 134,850 shares in the last quarter. Finally, Senvest Management LLC increased its holdings in shares of Trinity Biotech by 47.6% in the second quarter. Senvest Management LLC now owns 713,822 shares of the company’s stock worth $4,283,000 after acquiring an additional 230,297 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

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Trinity Biotech 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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