Trading Report: Today, Zacks Investment Research lowers the Stock rating of Trinity Biotech PLC (TRIB)

Today, Zacks Investment Research lowers the Stock rating of Trinity Biotech PLC (TRIB)

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

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. “

Separately, Stephens cut shares of Trinity Biotech PLC from an “overweight” rating to an “equal weight” rating in a report on Wednesday.

Trinity Biotech PLC (NASDAQ:TRIB) opened at 6.55 on Friday. The company’s 50-day moving average is $12.37 and its 200 day moving average is $11.72. The company has a market cap of $150.75 million, a price-to-earnings ratio of 27.87 and a beta of 0.97. Trinity Biotech PLC has a 52-week low of $5.76 and a 52-week high of $13.68.

Trinity Biotech PLC (NASDAQ:TRIB) last announced its earnings results on Thursday, July 21st. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. Trinity Biotech PLC had a net margin of 15.77% and a return on equity of 3.03%. The firm had revenue of $26.30 million for the quarter, compared to analysts’ expectations of $24.30 million. Equities analysts forecast that Trinity Biotech PLC will post ($0.19) earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in TRIB. Paradice Investment Management LLC raised its position in Trinity Biotech PLC by 13.3% in the second quarter. Paradice Investment Management LLC now owns 1,626,496 shares of the company’s stock valued at $18,444,000 after buying an additional 190,772 shares in the last quarter. Royce & Associates LP raised its position in Trinity Biotech PLC by 13.7% in the first quarter. Royce & Associates LP now owns 799,098 shares of the company’s stock valued at $9,317,000 after buying an additional 96,500 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Trinity Biotech PLC during the second quarter valued at about $5,109,000. Adirondack Research & Management Inc. raised its position in Trinity Biotech PLC by 1.3% in the first quarter. Adirondack Research & Management Inc. now owns 415,353 shares of the company’s stock valued at $4,843,000 after buying an additional 5,466 shares in the last quarter. Finally, Kimelman & Baird LLC raised its position in Trinity Biotech PLC by 0.6% in the first quarter. Kimelman & Baird LLC now owns 109,367 shares of the company’s stock valued at $1,275,000 after buying an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 71.14% 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.

Related posts

Leave a Comment