Zacks: Analysts Anticipate Asante Solutions Inc (NASDAQ:PUMP) Will Announce Earnings of $0.50 Per Share

Wall Street brokerages expect that Asante Solutions Inc (NASDAQ:PUMP) will report earnings per share of $0.50 for the current fiscal quarter, Zacks reports. Twenty Three analysts have issued estimates for Asante Solutions’ earnings, with estimates ranging from $0.35 to $0.83. Asante Solutions reported earnings per share of $0.53 in the same quarter last year, which would suggest a negative year over year growth rate of 5.7%. The company is expected to report its next earnings report on Tuesday, November 5th.

On average, analysts expect that Asante Solutions will report full-year earnings of $1.88 per share for the current financial year, with EPS estimates ranging from $1.35 to $3.06. For the next year, analysts anticipate that the company will post earnings of $1.73 per share, with EPS estimates ranging from $0.41 to $3.55. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Asante Solutions.

Asante Solutions (NASDAQ:PUMP) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.31). The firm had revenue of $529.50 million for the quarter, compared to the consensus estimate of $525.58 million. During the same period last year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis.

Several research analysts recently issued reports on PUMP shares. Raymond James cut their price objective on Asante Solutions from $20.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. B. Riley cut their price objective on Asante Solutions from $29.00 to $17.00 and set a “buy” rating for the company in a research report on Friday. Johnson Rice set a $21.00 price objective on Asante Solutions and gave the stock a “buy” rating in a research report on Monday, August 12th. BidaskClub downgraded Asante Solutions from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. Finally, Credit Suisse Group set a $15.00 price objective on Asante Solutions and gave the stock a “buy” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $16.85.

Shares of Asante Solutions stock traded up $0.21 during trading on Tuesday, hitting $8.36. 1,753,656 shares of the company were exchanged, compared to its average volume of 1,615,744. Asante Solutions has a fifty-two week low of $7.61 and a fifty-two week high of $25.38. The firm has a 50 day moving average price of $9.39 and a 200 day moving average price of $16.46.

Hedge funds have recently added to or reduced their stakes in the business. Paloma Partners Management Co purchased a new stake in Asante Solutions in the 2nd quarter worth approximately $317,000. IHT Wealth Management LLC purchased a new stake in Asante Solutions in the 2nd quarter worth approximately $334,000. Public Employees Retirement Association of Colorado purchased a new stake in Asante Solutions in the 2nd quarter worth approximately $352,000. Dupont Capital Management Corp purchased a new stake in Asante Solutions in the 2nd quarter worth approximately $419,000. Finally, Meeder Asset Management Inc. grew its stake in Asante Solutions by 25.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 21,269 shares of the company’s stock worth $440,000 after acquiring an additional 4,284 shares during the period.

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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