Wall Street brokerages expect Asante Solutions Inc (NASDAQ:PUMP) to announce $452.60 million in sales for the current fiscal quarter, Zacks reports. Fifteen analysts have made estimates for Asante Solutions’ earnings, with the highest sales estimate coming in at $464.60 million and the lowest estimate coming in at $430.21 million. Asante Solutions reported sales of $282.73 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 60.1%. The firm is scheduled to issue its next earnings report on Wednesday, November 7th.
On average, analysts expect that Asante Solutions will report full year sales of $1.73 billion for the current financial year, with estimates ranging from $1.65 billion to $1.77 billion. For the next year, analysts anticipate that the company will post sales of $1.78 billion per share, with estimates ranging from $1.57 billion to $2.08 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Asante Solutions.
Asante Solutions (NASDAQ:PUMP) last issued its earnings results on Tuesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.09). The company had revenue of $459.89 million during the quarter, compared to the consensus estimate of $422.64 million.
A number of equities analysts recently issued reports on PUMP shares. Jefferies Financial Group restated a “buy” rating and issued a $21.00 target price on shares of Asante Solutions in a research note on Friday, July 13th. SunTrust Banks set a $24.00 price target on Asante Solutions and gave the stock a “buy” rating in a research report on Thursday, August 30th. Credit Suisse Group increased their price target on Asante Solutions from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, May 21st. Macquarie started coverage on Asante Solutions in a research report on Friday, June 8th. They set a “neutral” rating and a $17.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $19.00 price target on shares of Asante Solutions in a research report on Thursday, August 9th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Asante Solutions currently has an average rating of “Buy” and a consensus price target of $21.27.
In related news, Director Pryor Blackwell purchased 13,404 shares of the business’s stock in a transaction on Thursday, June 7th. The shares were bought at an average cost of $15.36 per share, with a total value of $205,885.44. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Institutional investors and hedge funds have recently made changes to their positions in the business. Riverhead Capital Management LLC acquired a new stake in shares of Asante Solutions during the 2nd quarter valued at about $152,000. Everence Capital Management Inc. acquired a new stake in shares of Asante Solutions during the 2nd quarter valued at about $170,000. Amalgamated Bank acquired a new stake in shares of Asante Solutions during the 2nd quarter valued at about $179,000. GW&K Investment Management LLC acquired a new stake in shares of Asante Solutions during the 1st quarter valued at about $224,000. Finally, Flinton Capital Management LLC grew its position 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 valued at $227,000 after acquiring an additional 11,728 shares during the period.
PUMP stock traded up $0.04 during midday trading on Friday, reaching $15.17. The stock had a trading volume of 2,287,700 shares, compared to its average volume of 1,798,767. Asante Solutions has a 52-week low of $11.13 and a 52-week high of $22.88.
About Asante Solutions
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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