Biolase, Inc. (NASDAQ:BIOL) Announces Earnings Results, Misses Estimates By $0.04 EPS

Biolase, Inc. (NASDAQ:BIOL) announced its earnings results on Monday, August 7th. The medical technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.04, Morningstar.com reports. Biolase had a negative return on equity of 64.44% and a negative net margin of 31.64%. The firm had revenue of $12.61 million during the quarter.

Biolase (NASDAQ BIOL) traded up 0.50% during mid-day trading on Friday, hitting $0.60. The company had a trading volume of 127,747 shares. The firm’s market capitalization is $45.59 million. The company has a 50 day moving average of $0.80 and a 200 day moving average of $1.16. Biolase has a 1-year low of $0.48 and a 1-year high of $1.98.

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Several research analysts have recently issued reports on the company. ValuEngine lowered Biolase from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Singular Research initiated coverage on Biolase in a research note on Tuesday, April 25th. They issued a “buy” rating and a $2.50 price target on the stock.

An institutional investor recently raised its position in Biolase stock. Trellus Management Company LLC raised its position in Biolase, Inc. (NASDAQ:BIOL) by 20.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,857 shares of the medical technology company’s stock after buying an additional 59,104 shares during the period. Trellus Management Company LLC owned about 0.52% of Biolase worth $340,000 as of its most recent SEC filing. 37.55% of the stock is currently owned by institutional investors and hedge funds.

Biolase Company Profile

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.

Earnings History for Biolase (NASDAQ:BIOL)

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