BIOLASE (NASDAQ:BIOL) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of BIOLASE (NASDAQ:BIOL) from a hold rating to a buy rating in a report published on Thursday morning, ValuEngine reports.

BIOL has been the topic of a number of other research reports. Benchmark started coverage on shares of BIOLASE in a research note on Wednesday, June 19th. They set a speculative buy rating and a $2.00 target price on the stock. Ascendiant Capital Markets set a $3.00 target price on shares of BIOLASE and gave the company a buy rating in a research note on Monday, August 12th. Dougherty & Co restated a buy rating on shares of BIOLASE in a research note on Tuesday, April 30th. Finally, Zacks Investment Research cut shares of BIOLASE from a buy rating to a hold rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $2.17.

Shares of BIOLASE stock opened at $1.20 on Thursday. The company has a debt-to-equity ratio of 3.51, a current ratio of 2.04 and a quick ratio of 1.11. BIOLASE has a 1-year low of $0.91 and a 1-year high of $2.87. The company’s fifty day simple moving average is $1.58 and its 200-day simple moving average is $1.94. The stock has a market capitalization of $27.55 million, a PE ratio of -1.41 and a beta of 2.03.

BIOLASE (NASDAQ:BIOL) last released its earnings results on Thursday, August 8th. The medical technology company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. BIOLASE had a negative net margin of 47.46% and a negative return on equity of 159.26%. The company had revenue of $8.65 million for the quarter, compared to analysts’ expectations of $12.76 million. As a group, research analysts anticipate that BIOLASE will post -0.59 EPS for the current year.

In other BIOLASE news, major shareholder Larry N. Feinberg sold 1,000,000 shares of BIOLASE stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $1.50, for a total value of $1,500,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.50% of the company’s stock.

An institutional investor recently raised its position in BIOLASE stock. BlackRock Inc. lifted its holdings in BIOLASE Inc (NASDAQ:BIOL) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 298,875 shares of the medical technology company’s stock after buying an additional 9,698 shares during the period. BlackRock Inc. owned about 1.40% of BIOLASE worth $440,000 at the end of the most recent reporting period. 38.30% of the stock is currently owned by hedge funds and other institutional investors.

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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