Initiates Coverage on Trinity Biotech (NASDAQ:TRIB) initiated coverage on shares of Trinity Biotech (NASDAQ:TRIBFree Report) in a research note issued to investors on Monday morning. The brokerage issued a buy rating on the stock.

Trinity Biotech Price Performance

Shares of TRIB opened at $0.56 on Monday. Trinity Biotech has a 12-month low of $0.37 and a 12-month high of $1.24. The firm has a fifty day moving average price of $0.48 and a 200-day moving average price of $0.58.

Trinity Biotech (NASDAQ:TRIBGet Free Report) last released its quarterly earnings data on Wednesday, January 31st. The company reported ($0.18) earnings per share for the quarter. The company had revenue of $14.68 million for the quarter. On average, sell-side analysts anticipate that Trinity Biotech will post -0.59 earnings per share for the current fiscal year.

Institutional Trading of Trinity Biotech

A number of hedge funds have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. lifted its stake in Trinity Biotech by 38.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 34,300 shares of the company’s stock worth $34,000 after acquiring an additional 9,600 shares during the period. Renaissance Technologies LLC lifted its stake in Trinity Biotech by 2.4% in the second quarter. Renaissance Technologies LLC now owns 1,503,336 shares of the company’s stock worth $1,842,000 after acquiring an additional 34,900 shares during the period. Virtu Financial LLC purchased a new stake in shares of Trinity Biotech during the first quarter valued at about $40,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Trinity Biotech during the second quarter valued at about $106,000. Finally, Whitefort Capital Management LP lifted its position in shares of Trinity Biotech by 1,067.8% during the first quarter. Whitefort Capital Management LP now owns 409,517 shares of the company’s stock valued at $434,000 after buying an additional 374,449 shares during the last quarter. 16.28% of the stock is owned by hedge funds and other institutional investors.

Trinity Biotech Company Profile

(Get Free Report)

Trinity Biotech plc acquires, together with its subsidiaries, develops, manufactures, and markets medical diagnostic products for the clinical laboratory and point-of-care (POC) segments of the diagnostic market in the Americas, Africa, Asia, and Europe. The company offers clinical laboratory products, including diagnostic tests and instrumentation, which detect infectious diseases, such as lyme disease; sexually transmitted diseases consisting syphilis and herpes; SARS-CoV-2; and epstein barr, measles, mumps, toxoplasmosis, cytomegalovirus, rubella, varicella and other viral pathogens, as well as products for the in-vitro diagnostic testing for haemoglobin A1c used in the monitoring and diagnosis of diabetes, and identifying those who are at a risk of developing diabetes.

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