ValuEngine upgraded shares of BIOLASE (NASDAQ:BIOL) from a hold rating to a buy rating in a report released on Thursday morning, ValuEngine reports.

Several other equities analysts also recently weighed in on the stock. Benchmark began coverage on shares of BIOLASE in a report on Wednesday, June 19th. They issued a speculative buy rating and a $2.00 price target on the stock. Zacks Investment Research downgraded shares of BIOLASE from a buy rating to a hold rating in a report on Wednesday, July 10th. Dougherty & Co reiterated a buy rating on shares of BIOLASE in a report on Tuesday, April 30th. Finally, Ascendiant Capital Markets set a $3.00 price target on shares of BIOLASE and gave the stock a buy rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $2.17.

BIOL opened at $1.20 on Thursday. BIOLASE has a 52-week low of $0.91 and a 52-week high of $2.87. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 2.04. The firm’s 50-day moving average price is $1.58 and its 200-day moving average price is $1.94.

BIOLASE (NASDAQ:BIOL) last issued its quarterly earnings results on Thursday, August 8th. The medical technology company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. BIOLASE had a negative net margin of 47.46% and a negative return on equity of 159.26%. The company had revenue of $8.65 million for the quarter, compared to the consensus estimate of $12.76 million. On average, analysts expect that BIOLASE will post -0.59 EPS for the current year.

In other news, major shareholder Larry N. Feinberg sold 1,000,000 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this hyperlink. 4.50% of the stock is owned by company insiders.

A hedge fund recently raised its stake in BIOLASE stock. Vanguard Group Inc. raised its holdings in BIOLASE Inc (NASDAQ:BIOL) by 487.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 958,247 shares of the medical technology company’s stock after purchasing an additional 795,067 shares during the period. Vanguard Group Inc. owned 4.50% of BIOLASE worth $1,408,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 38.30% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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