BIOLASE Inc (NASDAQ:BIOL) Receives Consensus Rating of “Buy” from Brokerages

BIOLASE Inc (NASDAQ:BIOL) has been assigned an average rating of “Buy” from the six research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $2.50.

BIOL has been the topic of a number of analyst reports. Dougherty & Co reissued a “buy” rating on shares of BIOLASE in a research note on Tuesday, April 30th. ValuEngine downgraded BIOLASE from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Benchmark initiated coverage on BIOLASE in a research note on Wednesday, June 19th. They issued a “speculative buy” rating and a $2.00 price target on the stock. Ascendiant Capital Markets set a $3.00 price target on BIOLASE and gave the company a “buy” rating in a research note on Monday. Finally, Zacks Investment Research downgraded BIOLASE from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th.

In other news, major shareholder Larry N. Feinberg sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $1.50, for a total value of $1,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by company insiders.

An institutional investor recently raised its position in BIOLASE stock. BlackRock Inc. increased its holdings in shares of BIOLASE Inc (NASDAQ:BIOL) by 3.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 298,875 shares of the medical technology company’s stock after purchasing an additional 9,698 shares during the period. BlackRock Inc. owned 1.40% of BIOLASE worth $440,000 as of its most recent filing with the SEC. 38.30% of the stock is owned by hedge funds and other institutional investors.

NASDAQ BIOL traded down $0.13 during trading hours on Wednesday, reaching $1.33. 14,342 shares of the company’s stock were exchanged, compared to its average volume of 40,485. The company has a market cap of $31.09 million, a PE ratio of -1.56 and a beta of 2.03. BIOLASE has a one year low of $0.91 and a one year high of $2.87. The business’s fifty day simple moving average is $1.59. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.11 and a current ratio of 1.91.

BIOLASE (NASDAQ:BIOL) last released its quarterly earnings results on Thursday, August 8th. The medical technology company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. The business had revenue of $8.65 million for the quarter, compared to analyst estimates of $12.76 million. BIOLASE had a negative return on equity of 132.62% and a negative net margin of 47.46%. On average, equities analysts forecast that BIOLASE will post -0.59 earnings per share for the current fiscal year.

BIOLASE Company Profile

BIOLASE, Inc, a medical device company, develops, manufactures, markets, and sells laser systems in dentistry and medicine for patients and health care professionals in the worldwide. The company offers Waterlase all-tissue dental laser systems for cutting soft and hard tissues; and diode laser systems to perform soft tissue, pain therapy, and cosmetic procedures, including teeth whitening.

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