Shares of BIOLASE Inc (NASDAQ:BIOL) have been assigned an average rating of “Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $2.17.
BIOL has been the subject of several research analyst reports. Ascendiant Capital Markets set a $3.00 price objective on BIOLASE and gave the company a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research upgraded BIOLASE from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a research report on Thursday. Dougherty & Co reiterated a “buy” rating on shares of BIOLASE in a research report on Tuesday, April 30th. ValuEngine raised BIOLASE from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Benchmark assumed coverage on BIOLASE in a research note on Wednesday, June 19th. They issued a “speculative buy” rating and a $2.00 target price for the company.
In other news, major shareholder Larry N. Feinberg sold 1,000,000 shares of BIOLASE stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $1.50, for a total value of $1,500,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in BIOLASE stock. BlackRock Inc. increased its stake in shares of BIOLASE Inc (NASDAQ:BIOL) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 1.40% of BIOLASE worth $440,000 as of its most recent SEC filing. Institutional investors own 37.33% of the company’s stock.
BIOL traded down $0.01 during trading on Wednesday, hitting $1.19. The company’s stock had a trading volume of 4,300 shares, compared to its average volume of 16,682. The firm’s 50 day moving average price is $1.58 and its two-hundred day moving average price is $1.94. The company has a quick ratio of 1.11, a current ratio of 2.04 and a debt-to-equity ratio of 3.51. BIOLASE has a 12 month low of $0.91 and a 12 month high of $2.87. The stock has a market capitalization of $26.03 million, a price-to-earnings ratio of -1.41 and a beta of 2.03.
BIOLASE (NASDAQ:BIOL) last issued its quarterly earnings data on Thursday, August 8th. The medical technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. BIOLASE had a negative return on equity of 159.26% and a negative net margin of 47.46%. The firm had revenue of $8.65 million during the quarter, compared to the consensus estimate of $12.76 million. On average, sell-side analysts forecast that BIOLASE will post -0.59 earnings per share for the current 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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