BIOLASE Inc (NASDAQ:BIOL) Expected to Announce Earnings of -$0.17 Per Share

Equities analysts predict that BIOLASE Inc (NASDAQ:BIOL) will post earnings of ($0.17) per share for the current quarter, Zacks reports. Zero analysts have issued estimates for BIOLASE’s earnings. BIOLASE reported earnings of ($0.22) per share during the same quarter last year, which indicates a positive year over year growth rate of 22.7%. The firm is scheduled to issue its next earnings report on Tuesday, November 12th.

According to Zacks, analysts expect that BIOLASE will report full year earnings of ($0.59) per share for the current year. For the next year, analysts anticipate that the company will post earnings of ($0.12) per share. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for BIOLASE.

BIOLASE (NASDAQ:BIOL) last issued its quarterly earnings results on Thursday, August 8th. The medical technology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.03. The company had revenue of $8.65 million for the quarter, compared to the consensus estimate of $12.76 million. BIOLASE had a negative net margin of 47.46% and a negative return on equity of 159.26%.

BIOL has been the topic of several analyst reports. Ascendiant Capital Markets set a $3.00 price target on shares of BIOLASE and gave the company a “buy” rating in a report on Monday, August 12th. ValuEngine upgraded shares of BIOLASE from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Zacks Investment Research upgraded shares of BIOLASE from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a report on Thursday, August 15th. Finally, Benchmark initiated coverage on shares of BIOLASE in a report on Wednesday, June 19th. They set a “speculative buy” rating and a $2.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $2.17.

NASDAQ:BIOL traded up $0.04 during mid-day trading on Friday, hitting $1.07. 21,855 shares of the stock traded hands, compared to its average volume of 28,319. The stock has a market capitalization of $20.82 million, a price-to-earnings ratio of -1.26 and a beta of 2.18. BIOLASE has a 52 week low of $0.91 and a 52 week high of $2.87. The firm’s 50 day moving average is $1.29 and its two-hundred day moving average is $1.83. The company has a quick ratio of 1.11, a current ratio of 2.04 and a debt-to-equity ratio of 3.51.

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

A hedge fund recently raised its stake in BIOLASE stock. BlackRock Inc. raised its stake in BIOLASE Inc (NASDAQ:BIOL) by 3.4% in the 2nd quarter, according to the company in its most recent 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 about 1.40% of BIOLASE worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 37.88% of the stock is owned by institutional investors and hedge funds.

About BIOLASE

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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