Investment analysts at StockNews.com assumed coverage on shares of Trinity Biotech (NASDAQ:TRIB – Get Rating) in a research report issued on Sunday. The firm set a "buy" rating on the stock.

Separately, TheStreet cut shares of Trinity Biotech from a "c-" rating to a "d" rating in a research note on Tuesday, July 5th.

Trinity Biotech Stock Down 3.3 %

NASDAQ TRIB opened at $1.17 on Friday. Trinity Biotech has a 12-month low of $0.86 and a 12-month high of $2.50. The company has a market capitalization of $31.49 million, a PE ratio of -2.29 and a beta of 1.34. The firm's 50 day moving average is $1.32 and its 200-day moving average is $1.23.

Hedge Funds Weigh In On Trinity Biotech

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hunter Associates Investment Management LLC boosted its position in Trinity Biotech by 5.5% during the first quarter. Hunter Associates Investment Management LLC now owns 2,412,116 shares of the company's stock worth $2,557,000 after purchasing an additional 125,966 shares during the period. Renaissance Technologies LLC boosted its position in Trinity Biotech by 2.4% during the second quarter. Renaissance Technologies LLC now owns 1,503,336 shares of the company's stock worth $1,842,000 after purchasing an additional 34,900 shares during the period. Highbridge Capital Management LLC bought a new position in Trinity Biotech during the first quarter worth $1,221,000. Whitefort Capital Management LP boosted its position in Trinity Biotech by 1,067.8% during the first quarter. Whitefort Capital Management LP now owns 409,517 shares of the company's stock worth $434,000 after purchasing an additional 374,449 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in Trinity Biotech during the fourth quarter worth $159,000. 27.11% of the stock is owned by institutional investors.

About Trinity Biotech

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Trinity Biotech plc acquires, 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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