Biolase Technology Inc. is a California-based medical device manufacturer and distributor of laser systems for the dental industry. The company is known for its flagship Waterlase system consisting of brands like Waterlase Express, Waterlase iPlus, and Waterlase MD, and Waterlase MDX was founded in 1987. The laser systems, also known as all-tissue laser systems electromagnetic energy, have specific tissue interaction and absorption characteristics specifically meant for dental procedures of cutting hard tissue such as teeth and bone and soft tissue, such as skin and gum. The procedures are painless as they do not develop heat or vibration, nor does it causes bleeding or require any pressure during the application like traditional dental procures. Biolase has another category of laser products too.
The other product category is the diode soft tissue laser systems that include Epic X, Epic Pro, Epic Hygiene, iLase diode Lasers, Epic 10 that perform a cosmetic procedure, soft tissue hygiene, teeth whitening, and provide temporary pain relief. The company markets its products n 45 countries through subsidiary companies located in Australia, New Zealand, and Europe.
Should you buy Biolase shares?
Every stock investor has some investing philosophies about the kind of industries they prefer to invest in. Usually, they invest in companies in those industries and rarely venture into other segments. While concentrating on a group of industries for creating their investment portfolio, they keep learning about the investing tips and tricks in these industries. They develop some expertise that helps to achieve the investment goals. They invest within the industry segment and seldom venture into other sectors. Investors who take an interest in medical device stock are among those who might own Biolase stocks or feel interested in following BIOLASE stock news to understand if it is worth picking up some stocks.
What do the analysts say?
Currently, the BIOLASE stock price is $0.34 as of January 21, 4.00 PM EST and going by the analysts’ opinion, the Biolase stock received a consensus rating of Buy. Based on three buy ratings, no sell ratings, and no hold rating, the company received an average score of 3.0. Over the last twelve months, three Wall Street research analysts have issued a ‘buy,’ ‘hold,’ and ‘sell’ rating for Biolase, and, as told, the company received 3 Buy ratings already. According to the verdict, you can buy the company’s stocks with an investment horizon of 90 days without any consideration of the market risk. The advice is based on all the fundamental, predictive, and technical indicators that the analysts used for deciding on Biolase stock (NASDAQ: BIOL).
Stock price forecast
Biolase’s market capitalization is $52.12 million, and yearly revenue generation is $22.78 million. The net income or profit of the company is $-16.83 million per year, which translates into $0.15 EPS or earnings per share.
On November 10, 2021, the company announced its last quarter and the medical technology company $0.02 EPS for the quarter. The result topped the consensus estimate of $0.03 by a margin of $0.01. For the quarter, the company recorded revenue of $9.53 million. BIOL had a negative net margin of 48.22%, and the 12-month trailing return on equity was negative too at 74.97%. The company’s EPS for the same quarter in the previous year was $0.21. According to Biolase news, the company will announce its subsequent quarterly earnings on March 24, 2022. The forecasts indicate that the EPS for the quarter will be $0.03 against a sales figure of $112 million.
The 12-month price forecast for BIOL is based on the estimates made by four analysts. The median target is $2.0 with an estimated high of $3.25, while the low estimate is $2.0. Compared to the last price of $0.4, the median estimate shows a whopping increase of 488.24%.
There are some more reasons for having a positive outlook about Biolase. The trading pattern of the stocks indicates that insiders are upbeat about the stocks, and there are strong positive buying sentiments. An analysis of the last 100 trades shows that 11.02 million shares were purchased, and 7.58 million were sold. Insiders’ large volume of buying shows that they believe some excellent potential upside.
