Wall Street analysts expect Asante Solutions Inc (NASDAQ:PUMP) to report $428.58 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for Asante Solutions’ earnings, with the lowest sales estimate coming in at $336.00 million and the highest estimate coming in at $459.40 million. Asante Solutions posted sales of $282.73 million in the same quarter last year, which would indicate a positive year over year growth rate of 51.6%. The business is expected to announce its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Asante Solutions will report full year sales of $1.66 billion for the current fiscal year, with estimates ranging from $1.33 billion to $1.74 billion. For the next year, analysts anticipate that the firm will report sales of $1.74 billion per share, with estimates ranging from $1.34 billion to $2.01 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Asante Solutions.
Asante Solutions (NASDAQ:PUMP) last released its earnings results on Tuesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The business had revenue of $459.89 million for the quarter, compared to the consensus estimate of $422.64 million.
A number of brokerages recently weighed in on PUMP. Capital One Financial reiterated an “overweight” rating on shares of Asante Solutions in a research report on Wednesday, August 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price target on shares of Asante Solutions in a research report on Friday, August 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $19.00 price target on shares of Asante Solutions in a research report on Thursday, August 9th. Macquarie began coverage on shares of Asante Solutions in a research report on Friday, June 8th. They issued a “neutral” rating and a $17.00 price target on the stock. Finally, Tudor Pickering downgraded shares of Asante Solutions from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Asante Solutions presently has an average rating of “Buy” and a consensus price target of $21.55.
Shares of NASDAQ:PUMP traded up $0.70 during mid-day trading on Tuesday, reaching $16.64. The stock had a trading volume of 870,268 shares, compared to its average volume of 1,831,168. Asante Solutions has a twelve month low of $10.92 and a twelve month high of $22.88.
In related news, Director Pryor Blackwell bought 13,404 shares of the company’s stock in a transaction on Thursday, June 7th. The shares were purchased at an average cost of $15.36 per share, for a total transaction of $205,885.44. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
A number of hedge funds have recently made changes to their positions in PUMP. Riverhead Capital Management LLC acquired a new stake in Asante Solutions during the 2nd quarter worth approximately $152,000. Everence Capital Management Inc. acquired a new stake in Asante Solutions during the 2nd quarter worth approximately $170,000. Amalgamated Bank bought a new position in shares of Asante Solutions during the 2nd quarter worth approximately $179,000. GW&K Investment Management LLC bought a new position in shares of Asante Solutions during the 1st quarter worth approximately $224,000. Finally, Flinton Capital Management LLC grew its stake in shares of Asante Solutions by 423.7% during the 2nd quarter. Flinton Capital Management LLC now owns 14,496 shares of the company’s stock worth $227,000 after acquiring an additional 11,728 shares in the last quarter.
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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