Zacks: Analysts Anticipate Asante Solutions Inc (PUMP) Will Post Quarterly Sales of $318.81 Million

Equities research analysts expect Asante Solutions Inc (NASDAQ:PUMP) to report sales of $318.81 million for the current quarter, Zacks reports. Five analysts have issued estimates for Asante Solutions’ earnings, with the highest sales estimate coming in at $338.00 million and the lowest estimate coming in at $305.00 million. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 7th.

According to Zacks, analysts expect that Asante Solutions will report full year sales of $318.81 million for the current financial year, with estimates ranging from $973.00 million to $1.01 billion. For the next year, analysts anticipate that the business will post sales of $1.48 billion per share, with estimates ranging from $1.36 billion to $1.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Asante Solutions.

Asante Solutions (NASDAQ:PUMP) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. The company had revenue of $282.70 million during the quarter, compared to analyst estimates of $261.69 million. The firm’s quarterly revenue was up 32.4% compared to the same quarter last year.

A number of research firms recently commented on PUMP. Stephens began coverage on Asante Solutions in a research note on Tuesday, January 9th. They issued an “overweight” rating and a $24.00 price objective on the stock. BidaskClub lowered Asante Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered Asante Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 4th. Barclays reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Asante Solutions in a research note on Friday, November 10th. Finally, Jefferies Group started coverage on Asante Solutions in a report on Thursday, October 5th. They issued a “buy” rating and a $18.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Asante Solutions presently has a consensus rating of “Buy” and an average target price of $21.07.

In other news, major shareholder Energy Capital Partners Ii, Ll sold 13,800,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $15.07, for a total transaction of $207,966,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Several hedge funds and other institutional investors have recently modified their holdings of PUMP. Bank of New York Mellon Corp purchased a new position in shares of Asante Solutions during the 2nd quarter valued at $1,383,000. Teachers Advisors LLC purchased a new position in shares of Asante Solutions during the 2nd quarter valued at $637,000. TIAA CREF Investment Management LLC purchased a new position in shares of Asante Solutions during the 2nd quarter valued at $937,000. Nationwide Fund Advisors lifted its position in shares of Asante Solutions by 273.1% during the 2nd quarter. Nationwide Fund Advisors now owns 94,382 shares of the company’s stock valued at $1,318,000 after buying an additional 69,082 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of Asante Solutions during the 2nd quarter valued at $376,000.

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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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