Wall Street brokerages predict that Asante Solutions Inc (NASDAQ:PUMP) will announce sales of $416.28 million for the current quarter, Zacks Investment Research reports. Eighteen analysts have provided estimates for Asante Solutions’ earnings, with estimates ranging from $379.12 million to $474.53 million. Asante Solutions posted sales of $313.71 million in the same quarter last year, which suggests a positive year over year growth rate of 32.7%. The business is expected to announce its next earnings results on Monday, March 25th.
According to Zacks, analysts expect that Asante Solutions will report full year sales of $1.70 billion for the current fiscal year, with estimates ranging from $1.65 billion to $1.75 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.19 billion, with estimates ranging from $1.93 billion to $2.39 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Asante Solutions.
Asante Solutions (NASDAQ:PUMP) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). The business had revenue of $434.00 million for the quarter, compared to analysts’ expectations of $447.84 million. During the same quarter in the prior year, the company posted $0.25 EPS. Asante Solutions’s revenue was up 53.5% on a year-over-year basis.
Several equities analysts have commented on the stock. Bank of America decreased their price objective on shares of Asante Solutions from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, December 3rd. Zacks Investment Research downgraded shares of Asante Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Citigroup assumed coverage on shares of Asante Solutions in a report on Monday, November 19th. They issued a “buy” rating and a $25.00 price objective on the stock. Johnson Rice set a $24.00 price objective on shares of Asante Solutions and gave the company a “buy” rating in a report on Thursday, November 15th. Finally, Credit Suisse Group set a $21.00 price objective on shares of Asante Solutions and gave the company a “buy” rating in a report on Thursday, November 15th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Asante Solutions presently has a consensus rating of “Buy” and a consensus price target of $22.31.
In related news, Director Spencer D. Armour III sold 22,500 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $19.17, for a total value of $431,325.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Several hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new position in shares of Asante Solutions in the third quarter valued at about $4,451,000. Teachers Advisors LLC grew its stake in shares of Asante Solutions by 607.8% in the third quarter. Teachers Advisors LLC now owns 879,103 shares of the company’s stock valued at $14,496,000 after acquiring an additional 754,908 shares in the last quarter. Luminus Management LLC acquired a new position in shares of Asante Solutions in the third quarter valued at about $3,899,000. MetLife Investment Advisors LLC grew its stake in shares of Asante Solutions by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 51,882 shares of the company’s stock valued at $856,000 after acquiring an additional 18,443 shares in the last quarter. Finally, Capital Fund Management S.A. grew its stake in shares of Asante Solutions by 180.6% in the third quarter. Capital Fund Management S.A. now owns 285,450 shares of the company’s stock valued at $4,707,000 after acquiring an additional 183,714 shares in the last quarter.
NASDAQ:PUMP opened at $14.84 on Friday. Asante Solutions has a one year low of $14.00 and a one year 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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