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BIOLASE, Inc. (BIOLASE) provides laser systems for the dental industry. The Company develops, manufactures, markets and sells laser systems for dental practitioners and their patients. It offers two categories of laser system products: Waterlase (all-tissue) systems and diode (soft-tissue) systems. Waterlase dental laser systems flagship consist of the Waterlase Express, Waterlase iPlus, and the Waterlase MD and MDX which, produces electromagnetic energy with specific absorption and tissue interaction characteristics specifically designed for dental procedures in cutting hard tissue, such as bone and teeth, and soft tissue, such as gums and skin, without the heat, vibration, bleeding, or pressure associated with traditional dental treatments. Its diode soft tissue laser systems consist of the Epic X, Epic Hygiene, Epic Pro, Epic 10 and iLase diode lasers that perform soft tissue, hygiene, cosmetic procedures, teeth whitening, and provide temporary pain relief.

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Tesla's 'impressive' Q3 sales boost stock and Wall Street analysts hike estimates

12:35 pm ET October 4, 2021 (MarketWatch)

Claudia Assis

Tesla 'is just different from the rest,' says one analyst

Wall Street got busy over the weekend raising expectations on Tesla Inc. after the Silicon Valley electric-car maker reported quarterly sales that topped expectations despite lingering supply-chain snarls.

Tesla (TSLA) surprised markets on Saturday by saying it sold 241,300 vehicles in the third quarter, a new quarterly record for the company's deliveries and up from 139,593 vehicles sold in the same period last year.

"Tesla continues to weather the (semiconductor) shortage better than the rest of the autos industry," Emmanuel Rosner with Deutsche Bank said in a note Monday, calling the sales numbers "impressive."

Rosner tweaked higher his expectations for 2021 revenue and profit, and said Tesla is demonstrating "strong confidence" in its 2022 growth rate.

See also:GM stock rallies after Engine No. 1 announces investment

"Mid-term, we continue to believe Tesla's impressive trajectory for its batterytechnology, capacity and especially cost could help accelerate the world's shift toelectric vehicles and extend Tesla's EV lead considerably," he said.

Analyst Joseph Spak at RBC Capital lifted his price target on Tesla stock by $100 to $755, which represents downside of around 4% over Monday share prices.

Spak, who recently said Tesla was doing "an admirable job" amid supply-chain and semiconductor snags, also updated his expectations for third-quarter revenues to $14.4 billion, compared with consensus of around $13 billion. His expectations for the quarter's adjusted EPS went to $1.95 from $1.68, among other tweaks.

Tesla is expected to report third-quarter results later this month, with Wall Street expecting the post-results call with analysts to be the first without Chief Executive Elon Musk on it.

Musk said in the Tesla's second-quarter call he'd be unlikely to be on future Tesla earnings calls, "unless there's something important I need to say," he told analysts and others then.

Adam Jonas at Morgan Stanley focused on Tesla's ability to procure chips amid global shortages. Tesla, he concluded, "is just different from the rest."

Among the factors helping the EV maker where others may have failed: its vertical integration and relatively smaller size; how it may have more pull with its suppliers; and it likely has created "stronger communication linkages in its supply chain" since it makes many of its own tech products, Jonas said.

Chris McNally at Evercore ISI praised Tesla's "well-executed" production and delivery numbers.

The "upside" is likely to be coming from its plant in greater Shanghai, which could be approaching capacity to produce more than 500,000 vehicles a year, amid paint-shop constraints in Tesla's Fremont, Calif., plant, he said.

Tesla shares have gained about 12% this year, compared with gains of around 14% for the S&P 500 index.

-Claudia Assis


(END) Dow Jones Newswires

October 04, 2021 12:35 ET (16:35 GMT)

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