BIOLASE Inc (NASDAQ:BIOL) Receives $2.50 Average PT from Analysts

Shares of BIOLASE Inc (NASDAQ:BIOL) have been assigned an average rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $2.50.

A number of research firms recently issued reports on BIOL. Zacks Investment Research upgraded shares of BIOLASE from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. ValuEngine upgraded shares of BIOLASE from a “hold” rating to a “buy” rating in a report on Thursday, October 17th.

In other BIOLASE news, major shareholder Larry N. Feinberg acquired 17,391 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was bought at an average price of $57.50 per share, with a total value of $999,982.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in BIOLASE stock. BlackRock Inc. lifted its stake in BIOLASE Inc (NASDAQ:BIOL) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,875 shares of the medical technology company’s stock after buying 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 and hedge funds own 26.88% of the company’s stock.

BIOLASE stock traded up $0.06 during trading on Friday, reaching $0.75. The company had a trading volume of 3,600 shares, compared to its average volume of 149,103. BIOLASE has a 12-month low of $0.43 and a 12-month high of $2.87. The stock’s 50 day moving average price is $0.55 and its two-hundred day moving average price is $0.95. The firm has a market capitalization of $18.29 million, a price-to-earnings ratio of -0.88 and a beta of 2.16. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.84 and a current ratio of 1.66.

BIOLASE (NASDAQ:BIOL) last released its earnings results on Wednesday, November 6th. The medical technology company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.13. BIOLASE had a negative net margin of 52.13% and a negative return on equity of 313.64%. The firm had revenue of $8.65 million during the quarter. As a group, research analysts expect that BIOLASE will post -0.69 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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