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

Biolase, Inc. (NASDAQ:BIOL) released its quarterly earnings data on Monday, August 7th. The medical technology company reported ($0.06) earnings per share (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 64.44% and a negative net margin of 31.64%. The company had revenue of $12.61 million for the quarter.

Shares of Biolase (NASDAQ BIOL) traded up 0.50% during trading on Friday, reaching $0.60. 127,747 shares of the company’s stock traded hands. The company’s market cap is $45.59 million. The company’s 50-day moving average is $0.80 and its 200 day moving average is $1.16. Biolase has a 52-week low of $0.48 and a 52-week high of $1.98.

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

An institutional investor recently raised its position in Biolase stock. Trellus Management Company LLC raised its stake in Biolase, Inc. (NASDAQ:BIOL) by 20.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 0.52% of Biolase worth $340,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 37.55% of the company’s stock.

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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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