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Trinity Biotech (TRIB)

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Since its Q2 2010 clinical lab coag divestiture, Trinity Biotech (TRIB) has slashed operating costs and begun pumping its huge and growing cash balance into higher growth segments. Expectations are high for the PDX instrument, expected to launch in Europe and the U.S. in 2011.

Development of several new POC tests is ongoing, the fruits of which should be realized in 2012. TRIB has also just announced a share buyback program and dividend.

Management has a recent history of underpromising and overdelivering. We are maintaining our Outperform rating. Our price target has moved from $9.90 to $10.80.

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