© Reuters. Is Biolase a Winner in the Medical Device Industry?
The shares of BIOLASE (BIOL), a Global leader in dental lasers, have advanced significantly of late on the back of increasing demand for its dental lasers and its strategic investments. However, given the company’s mixed financial performance and poor profitability, the question that begs is will its shares be able to move higher in the near term? Read more to find out.
BIOLASE, Inc. (BIOL) is a manufacturer and seller of dental laser systems for dental practitioners in the United States and internationally. The stock has soared 95.5% over the past year on account of high demand for the company’s advanced lasers and its launch of specialist academies.
However, the stock has retreated 33% over the past three months. This price retreat can be attributed to the company’s mixed financial performance in the first quarter. BIOL is currently trading 52.6% below its $1.51, 52-week high, indicating short-term bearishness. Although the company has been investing heavily to develop more advanced dental lasers for endodontists, its bleak fundamentals make its growth prospects uncertain.
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