Trinity Biotech (NASDAQ:TRIB) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Trinity Biotech (NASDAQ:TRIB – Get Rating) in a research note issued on Wednesday. The brokerage set a “buy” rating on the stock.

Trinity Biotech Price Performance

NASDAQ TRIB opened at $0.92 on Wednesday. The company has a debt-to-equity ratio of 8.70, a current ratio of 2.69 and a quick ratio of 1.39. The firm has a market capitalization of $35.06 million, a price-to-earnings ratio of -0.71 and a beta of 1.41. The company has a 50 day simple moving average of $0.95 and a 200-day simple moving average of $1.07. Trinity Biotech has a 52-week low of $0.80 and a 52-week high of $1.50.

Trinity Biotech (NASDAQ:TRIB – Get Rating) last released its quarterly earnings data on Thursday, March 23rd. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.12). The company had revenue of $18.04 million during the quarter, compared to analyst estimates of $18.00 million. Trinity Biotech had a negative net margin of 54.84% and a negative return on equity of 724.07%. Equities research analysts predict that Trinity Biotech will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trinity Biotech

A number of hedge funds have recently added to or reduced their stakes in TRIB. Renaissance Technologies LLC raised its stake in shares of Trinity Biotech by 2.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,503,336 shares of the company’s stock valued at $1,842,000 after acquiring an additional 34,900 shares in the last quarter. Whitefort Capital Management LP lifted its stake in shares of Trinity Biotech by 1,067.8% in the first quarter. Whitefort Capital Management LP now owns 409,517 shares of the company’s stock worth $434,000 after buying an additional 374,449 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Trinity Biotech during the 1st quarter worth $40,000. Atria Wealth Solutions Inc. grew its stake in Trinity Biotech by 38.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 34,300 shares of the company’s stock valued at $34,000 after buying an additional 9,600 shares during the last quarter. Finally, Hunter Associates Investment Management LLC raised its holdings in Trinity Biotech by 1.5% in the 4th quarter. Hunter Associates Investment Management LLC now owns 1,823,633 shares of the company’s stock worth $1,809,000 after acquiring an additional 26,443 shares during the period. Institutional investors and hedge funds own 18.41% of the company’s stock.

About Trinity Biotech

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Trinity Biotech Plc engages in the development, manufacture, and marketing of medical diagnostic products for the clinical laboratory and point-of-care segments of the diagnostic market. It operates through the Americas and Rest of World geographical segments. The company was founded by Ronan O’Caoimh and Denis R.