Analysts Expect Asante Solutions Inc (NASDAQ:PUMP) Will Announce Quarterly Sales of $384.37 Million

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Brokerages expect that Asante Solutions Inc (NASDAQ:PUMP) will post $384.37 million in sales for the current quarter, according to Zacks. Twenty One analysts have provided estimates for Asante Solutions’ earnings, with the lowest sales estimate coming in at $330.90 million and the highest estimate coming in at $408.30 million. Asante Solutions posted sales of $425.41 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 9.6%. The firm is expected to issue its next earnings results on Tuesday, February 25th.

On average, analysts expect that Asante Solutions will report full-year sales of $2.00 billion for the current year, with estimates ranging from $1.91 billion to $2.03 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.78 billion, with estimates ranging from $1.49 billion to $2.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Asante Solutions.

Asante Solutions (NASDAQ:PUMP) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.15). The company had revenue of $541.85 million during the quarter, compared to analyst estimates of $509.17 million. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share.

Several analysts recently commented on the company. Barclays reaffirmed a “buy” rating and set a $17.00 price objective on shares of Asante Solutions in a research note on Thursday, October 17th. Credit Suisse Group set a $15.00 price objective on Asante Solutions and gave the stock a “buy” rating in a research note on Friday, October 11th. Scotiabank set a $14.00 price target on Asante Solutions and gave the company a “hold” rating in a research note on Monday, August 26th. Piper Jaffray Companies raised Asante Solutions from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $17.00 to $12.00 in a research note on Thursday, October 10th. Finally, R. F. Lafferty reissued a “hold” rating and issued a $18.00 price target (down previously from $40.00) on shares of Asante Solutions in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Asante Solutions presently has a consensus rating of “Buy” and a consensus target price of $15.31.

Asante Solutions stock traded up $0.21 during mid-day trading on Monday, hitting $9.99. 121,093 shares of the company’s stock were exchanged, compared to its average volume of 1,660,219. Asante Solutions has a fifty-two week low of $7.07 and a fifty-two week high of $25.38. The company’s 50 day simple moving average is $8.39 and its 200-day simple moving average is $12.92.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PUMP. UBS Asset Management Americas Inc. raised its stake in shares of Asante Solutions by 297.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 213,396 shares of the company’s stock valued at $4,417,000 after purchasing an additional 159,654 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of Asante Solutions by 9.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,212,962 shares of the company’s stock valued at $25,108,000 after purchasing an additional 100,657 shares during the period. Bowling Portfolio Management LLC acquired a new stake in shares of Asante Solutions in the 3rd quarter valued at about $773,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Asante Solutions in the 3rd quarter valued at about $699,000. Finally, Nikko Asset Management Americas Inc. acquired a new stake in shares of Asante Solutions in the 3rd quarter valued at about $699,000.

Asante Solutions Company Profile

Asante Solutions, Inc is a medical device company. The Company is a manufacturer of Asante Snap Insulin Pump System (Snap system), which is a pump featuring a modular design with pre-filled insulin cartridges and disposable pump bodies, utilized in combination with a controller. The Snap system comprises four components: the Snap system controller, a disposable pump body, disposable pre-filled insulin cartridges and disposable infusion sets.

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