Biolase, Inc. (BIOL) Releases Earnings Results, Misses Estimates By $0.04 EPS
Biolase, Inc. (NASDAQ:BIOL) issued its quarterly earnings results on Monday. The medical technology company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.04, Morningstar.com reports. Biolase had a negative return on equity of 65.77% and a negative net margin of 29.44%. The company had revenue of $12.61 million during the quarter.
Biolase (NASDAQ BIOL) traded down 16.951% on Tuesday, reaching $0.681. The company’s stock had a trading volume of 312,927 shares. The firm’s market cap is $46.08 million. Biolase has a 52-week low of $0.68 and a 52-week high of $1.98. The stock’s 50 day moving average price is $0.93 and its 200 day moving average price is $1.23.
A hedge fund recently raised its stake in Biolase stock. Trellus Management Company LLC raised its stake in shares of Biolase, Inc. (NASDAQ:BIOL) by 284.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 291,753 shares of the medical technology company’s stock after buying an additional 215,826 shares during the period. Trellus Management Company LLC owned 0.43% of Biolase worth $394,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 37.58% of the company’s stock.
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A number of research analysts recently commented on BIOL shares. Singular Research started coverage on Biolase in a research report on Tuesday, April 25th. They issued a “buy” rating and a $2.50 price target on the stock. ValuEngine cut Biolase from a “hold” rating to a “sell” rating in a research report on Monday, July 24th.
BIOLASE, Inc (BIOLASE) is a medical device company that develops, manufactures, markets and sells laser systems in dentistry and medicine. The Company markets, sells, and distributes dental imaging equipment, including cone beam digital x-rays and computer-aided design (CAD)/computer-aided manufacturing (CAM) intra-oral scanners, in-office, chair-side milling machines and three-dimensional (3-D) printers.
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