Trinity Biotech (NASDAQ:TRIB) Issues Earnings Results

Trinity Biotech (NASDAQ:TRIB) announced its earnings results on Tuesday. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.08, Zacks reports. The company had revenue of $10.85 million for the quarter, compared to the consensus estimate of $10.68 million.

Trinity Biotech Stock Up 1.7%

Shares of Trinity Biotech stock opened at $0.58 on Thursday. The stock has a market capitalization of $2.08 million and a P/E ratio of -0.34. The stock has a 50 day moving average price of $0.65 and a two-hundred day moving average price of $0.75. Trinity Biotech has a 12-month low of $0.50 and a 12-month high of $3.44.

Analyst Ratings Changes

Separately, Weiss Ratings cut Trinity Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Trinity Biotech currently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Trinity Biotech

A hedge fund recently raised its stake in Trinity Biotech stock. Citadel Advisors LLC grew its holdings in Trinity Biotech PLC (NASDAQ:TRIB) by 196.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,384 shares of the company’s stock after acquiring an additional 26,084 shares during the quarter. Citadel Advisors LLC owned 1.10% of Trinity Biotech worth $41,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 78.97% of the company’s stock.

About Trinity Biotech

Trinity Biotech plc is a global diagnostic healthcare company headquartered in Bray, Ireland. The firm specializes in the development, manufacture and marketing of in vitro diagnostic products aimed at the detection and management of chronic and infectious diseases. Its offerings are designed to deliver timely and accurate results for a range of healthcare settings, from central laboratories to point‐of‐care environments.

The company’s product portfolio includes a comprehensive array of assays and instrumentation.