Asante Solutions Inc (NASDAQ:PUMP) Expected to Announce Quarterly Sales of $385.73 Million

Equities analysts expect that Asante Solutions Inc (NASDAQ:PUMP) will post $385.73 million in sales for the current quarter, according to Zacks Investment Research. Twenty analysts have made estimates for Asante Solutions’ earnings. The lowest sales estimate is $330.90 million and the highest is $470.09 million. Asante Solutions reported sales of $425.41 million in the same quarter last year, which indicates a negative year over year growth rate of 9.3%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 25th.

On average, analysts expect that Asante Solutions will report full-year sales of $1.98 billion for the current year, with estimates ranging from $1.88 billion to $2.05 billion. For the next year, analysts forecast that the firm will post sales of $1.84 billion, with estimates ranging from $1.49 billion to $2.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Asante Solutions.

Asante Solutions (NASDAQ:PUMP) last posted its earnings results on Wednesday, November 13th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.15). The firm had revenue of $541.85 million for the quarter, compared to analysts’ expectations of $509.17 million. The company’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share.

A number of research firms have recently commented on PUMP. Barclays reissued a “buy” rating and issued a $17.00 target price on shares of Asante Solutions in a report on Thursday, October 17th. Scotiabank set a $14.00 target price on shares of Asante Solutions and gave the stock a “hold” rating in a report on Monday, August 26th. Johnson Rice set a $21.00 target price on shares of Asante Solutions and gave the stock a “buy” rating in a report on Monday, August 12th. BidaskClub cut shares of Asante Solutions from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. Finally, Royal Bank of Canada set a $15.00 target price on shares of Asante Solutions and gave the stock a “buy” rating in a report on Friday, August 9th. 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. The stock presently has an average rating of “Buy” and a consensus price target of $15.31.

A number of hedge funds and other institutional investors have recently modified their holdings of PUMP. UBS Asset Management Americas Inc. raised its holdings in 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 buying an additional 159,654 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in Asante Solutions by 9.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,212,962 shares of the company’s stock worth $25,108,000 after purchasing an additional 100,657 shares during the last quarter. Bowling Portfolio Management LLC bought a new position in Asante Solutions during the 3rd quarter worth approximately $773,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Asante Solutions during the 3rd quarter worth approximately $699,000. Finally, Nikko Asset Management Americas Inc. bought a new position in Asante Solutions during the 3rd quarter worth approximately $699,000.

Shares of PUMP stock traded down $0.03 on Friday, reaching $7.97. The company had a trading volume of 1,590,395 shares, compared to its average volume of 1,681,682. Asante Solutions has a one year low of $7.07 and a one year high of $25.38. The business’s 50-day moving average is $8.40 and its 200 day moving average is $14.46.

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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Earnings History and Estimates for Asante Solutions (NASDAQ:PUMP)

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