Analysts expect that Asante Solutions Inc (NASDAQ:PUMP) will post $308.71 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Asante Solutions’ earnings, with the highest sales estimate coming in at $316.00 million and the lowest estimate coming in at $295.00 million. The firm is scheduled to announce its next quarterly earnings report after the market closes on Monday, March 26th.
On average, analysts expect that Asante Solutions will report full-year sales of $308.71 million for the current financial year, with estimates ranging from $963.00 million to $985.00 million. For the next fiscal year, analysts expect that the company will post sales of $1.51 billion per share, with estimates ranging from $1.33 billion to $1.60 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Asante Solutions.
PUMP has been the subject of a number of research reports. Royal Bank of Canada set a $24.00 price objective on shares of Asante Solutions and gave the company a “buy” rating in a research note on Thursday, December 21st. SunTrust Banks initiated coverage on shares of Asante Solutions in a research note on Wednesday, December 20th. They issued a “buy” rating and a $27.00 price objective for the company. Zacks Investment Research raised shares of Asante Solutions from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research note on Friday, January 5th. Stephens initiated coverage on shares of Asante Solutions in a research note on Tuesday, January 9th. They issued an “overweight” rating and a $24.00 price objective for the company. Finally, Cowen initiated coverage on shares of Asante Solutions in a research note on Wednesday, February 7th. They issued a “market perform” rating and a $17.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Asante Solutions presently has a consensus rating of “Buy” and an average price target of $20.80.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Westwood Holdings Group Inc. purchased a new stake in Asante Solutions during the 4th quarter valued at $13,577,000. Geode Capital Management LLC boosted its position in Asante Solutions by 65.7% during the 4th quarter. Geode Capital Management LLC now owns 474,679 shares of the company’s stock valued at $9,569,000 after buying an additional 188,286 shares during the period. State Street Corp purchased a new stake in Asante Solutions during the 2nd quarter valued at $5,033,000. Driehaus Capital Management LLC purchased a new stake in Asante Solutions during the 4th quarter valued at $6,636,000. Finally, Bank of New York Mellon Corp boosted its position in Asante Solutions by 194.7% during the 4th quarter. Bank of New York Mellon Corp now owns 326,642 shares of the company’s stock valued at $6,584,000 after buying an additional 215,802 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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