Asante Solutions Inc (PUMP) Expected to Announce Quarterly Sales of $421.13 Million

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Brokerages forecast that Asante Solutions Inc (NASDAQ:PUMP) will report $421.13 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Asante Solutions’ earnings, with the highest sales estimate coming in at $435.50 million and the lowest estimate coming in at $410.36 million. Asante Solutions reported sales of $213.49 million during the same quarter last year, which indicates a positive year-over-year growth rate of 97.3%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, August 14th.

According to Zacks, analysts expect that Asante Solutions will report full year sales of $1.62 billion for the current fiscal year, with estimates ranging from $1.33 billion to $1.73 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.78 billion per share, with estimates ranging from $1.34 billion to $1.95 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Asante Solutions.

Asante Solutions (NASDAQ:PUMP) last posted its quarterly earnings results on Tuesday, May 8th. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. The firm had revenue of $385.20 million for the quarter, compared to analysts’ expectations of $375.75 million. During the same quarter in the previous year, the company earned ($0.43) EPS. The company’s quarterly revenue was up 124.1% compared to the same quarter last year.

PUMP has been the topic of a number of recent analyst reports. R. F. Lafferty increased their price target on shares of Asante Solutions from $24.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, June 7th. Credit Suisse Group increased their price target on shares of Asante Solutions from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, May 21st. Jefferies Financial Group set a $21.00 price target on shares of Asante Solutions and gave the company a “buy” rating in a report on Tuesday, March 27th. Zacks Investment Research cut shares of Asante Solutions from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Finally, Piper Jaffray Companies set a $19.00 price target on shares of Asante Solutions and gave the company a “buy” rating in a report on Wednesday, March 28th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Asante Solutions currently has an average rating of “Buy” and an average target price of $21.73.

In related news, Director Pryor Blackwell bought 13,404 shares of the company’s stock in a transaction that occurred on Thursday, June 7th. The shares were bought at an average price of $15.36 per share, for a total transaction of $205,885.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hancock Holding Co. raised its position in Asante Solutions by 1.2% in the first quarter. Hancock Holding Co. now owns 520,980 shares of the company’s stock worth $8,279,000 after acquiring an additional 6,005 shares during the period. New York State Common Retirement Fund raised its position in Asante Solutions by 22.3% in the first quarter. New York State Common Retirement Fund now owns 62,000 shares of the company’s stock worth $985,000 after acquiring an additional 11,300 shares during the period. GW&K Investment Management LLC bought a new position in Asante Solutions in the first quarter worth approximately $224,000. Metropolitan Life Insurance Co. NY bought a new position in Asante Solutions in the fourth quarter worth approximately $378,000. Finally, American International Group Inc. raised its position in Asante Solutions by 126.9% in the fourth quarter. American International Group Inc. now owns 38,425 shares of the company’s stock worth $775,000 after acquiring an additional 21,491 shares during the period.

Shares of NASDAQ:PUMP traded down $0.21 during trading on Friday, reaching $15.32. 72,527 shares of the stock traded hands, compared to its average volume of 2,021,143. Asante Solutions has a 52-week low of $10.84 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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Earnings History and Estimates for Asante Solutions (NASDAQ:PUMP)

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