Top investors say BIOLASE Inc. (BIOL) ticks everything they need

BIOLASE Inc. (NASDAQ: BIOL) stock jumped 5.79% on Monday to $0.64 against a previous-day closing price of $0.61. With 1.36 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.45 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $0.6600 whereas the lowest price it dropped to was $0.5900. The 52-week range on BIOL shows that it touched its highest point at $10.70 and its lowest point at $0.37 during that stretch. It currently has a 1-year price target of $6.88. Beta for the stock currently stands at 1.43.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BIOL was up-trending over the past week, with a rise of 50.09%, but this was up by 1.75% over a month. Three-month performance dropped to -68.47% while six-month performance fell -85.81%. The stock lost -92.97% in the past year, while it has lost -1.54% so far this year. A look at the trailing 12-month EPS for BIOL yields -3.68 with Next year EPS estimates of -0.72. For the next quarter, that number is -0.66. This implies an EPS growth rate of 79.80% for this year and 69.70% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 39.90%.

Float and Shares Shorts:

At present, 35.58 million BIOL shares are outstanding with a float of 31.50 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.13 million, which was 1.57% higher than short shares on Sep 14, 2022. In addition to Mr. John R. Beaver as the firm’s Pres, CEO & Director, Ms. Jennifer Bright serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 20.49% of BIOL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.75% of BIOL, in contrast to 15.94% held by mutual funds. Shares owned by individuals account for 0.30%. As the largest shareholder in BIOL with 9.78% of the stake, Armistice Capital LLC holds 699,000 shares worth 699,000. A second-largest stockholder of BIOL, The Vanguard Group, Inc., holds 273,354 shares, controlling over 3.83% of the firm’s shares. Perkins Capital Management, Inc. is the third largest shareholder in BIOL, holding 132,070 shares or 1.85% stake. With a 2.34% stake in BIOL, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 167,042 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.30% of BIOL stock, is the second-largest Mutual Fund holder. It holds 92,558 shares valued at 60163.0. Fidelity Extended Market Index Fu holds 0.42% of the stake in BIOL, owning 29,679 shares worth 19291.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BIOL since 4 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BIOL analysts setting a high price target of $14.00 and a low target of $1.50, the average target price over the next 12 months is $6.88. Based on these targets, BIOL could surge 2087.5% to reach the target high and rise by 134.38% to reach the target low. Reaching the average price target will result in a growth of 975.0% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BIOL will report FY 2022 earnings on 03/15/2024. Analysts have provided yearly estimates in a range of -$3.38 being high and -$3.61 being low. For BIOL, this leads to a yearly average estimate of -$3.47. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. BIOLASE Inc. surprised analysts by -$0.26 when it reported -$1.10 EPS against a consensus estimate of -$0.84. The surprise factor in the prior quarter was -$0.27. Based on analyst estimates, the high estimate for the next quarter is -$0.58 and the low estimate is -$0.78. The average estimate for the next quarter is thus -$0.66.

Summary of Insider Activity:

Insiders traded BIOL stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 3,537 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 0 while 3,537 shares were sold.

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