FY2021 EPS Estimates for BIOLASE, Inc. Boosted by Analyst (NASDAQ:BIOL)

BIOLASE, Inc. (NASDAQ:BIOL) – Stock analysts at Colliers Securities raised their FY2021 earnings estimates for shares of BIOLASE in a research report issued to clients and investors on Tuesday, January 11th. Colliers Securities analyst K. Bauser now forecasts that the medical technology company will post earnings of ($0.10) per share for the year, up from their prior estimate of ($0.11).

Separately, Zacks Investment Research raised shares of BIOLASE from a “sell” rating to a “hold” rating in a report on Tuesday, January 4th.

BIOL opened at $0.40 on Thursday. The company has a 50 day moving average of $0.44 and a 200 day moving average of $0.57. The company has a market cap of $61.66 million, a PE ratio of -2.68 and a beta of 1.43. BIOLASE has a 12 month low of $0.37 and a 12 month high of $1.51. The company has a current ratio of 3.91, a quick ratio of 2.87 and a debt-to-equity ratio of 0.40.

BIOLASE (NASDAQ:BIOL) last announced its quarterly earnings data on Wednesday, November 10th. The medical technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. BIOLASE had a negative net margin of 48.22% and a negative return on equity of 74.97%. During the same quarter in the prior year, the business posted ($0.21) earnings per share.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of BIOLASE during the 3rd quarter valued at about $26,000. Two Sigma Advisers LP increased its position in BIOLASE by 643.8% during the 3rd quarter. Two Sigma Advisers LP now owns 387,500 shares of the medical technology company’s stock valued at $248,000 after buying an additional 335,400 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of BIOLASE by 76.9% in the 3rd quarter. Two Sigma Investments LP now owns 192,559 shares of the medical technology company’s stock worth $123,000 after purchasing an additional 83,682 shares in the last quarter. Millennium Management LLC increased its holdings in shares of BIOLASE by 5,127.1% in the 3rd quarter. Millennium Management LLC now owns 1,575,605 shares of the medical technology company’s stock worth $1,007,000 after purchasing an additional 1,545,462 shares in the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of BIOLASE by 334.0% in the 3rd quarter. Citadel Advisors LLC now owns 87,626 shares of the medical technology company’s stock worth $56,000 after purchasing an additional 67,437 shares in the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO John R. Beaver acquired 70,000 shares of the firm’s stock in a transaction on Tuesday, November 30th. The shares were purchased at an average price of $0.45 per share, for a total transaction of $31,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by company insiders.

About BIOLASE

BIOLASE, Inc is a medical device company, which engages in developing, manufacturing, marketing and sale of laser systems in dentistry and medicine. It operates through Waterlase (all-tissue) systems, and Diode (soft-tissue) systems products. The Waterlase systems uses a patented combination of water and laser energy to perform procedures using drills, scalpels, and other traditional dental instruments for cutting soft and hard tissue.

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