Trinity Biotech (NASDAQ:TRIB) Announces Quarterly Earnings Results

Trinity Biotech (NASDAQ:TRIB) announced its quarterly earnings results on Tuesday. The company reported ($0.23) earnings per share (EPS) for the quarter, Zacks reports.

Trinity Biotech Stock Down 8.3%

Shares of Trinity Biotech stock traded down $0.06 on Tuesday, hitting $0.62. The company’s stock had a trading volume of 525,026 shares, compared to its average volume of 199,786. The company has a market capitalization of $2.23 million and a P/E ratio of -0.16. Trinity Biotech has a 52-week low of $0.50 and a 52-week high of $3.44. The firm has a fifty day moving average price of $0.65 and a 200-day moving average price of $0.75.

Analysts Set New Price Targets

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

Institutional Trading of Trinity Biotech

A hedge fund recently raised its stake in Trinity Biotech stock. Citadel Advisors LLC increased its stake in shares of Trinity Biotech PLC (NASDAQ:TRIB) by 196.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,384 shares of the company’s stock after purchasing an additional 26,084 shares during the quarter. Citadel Advisors LLC owned approximately 1.10% of Trinity Biotech worth $41,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.