Asante Solutions (NASDAQ:PUMP) Releases Earnings Results, Misses Expectations By $0.31 EPS

Asante Solutions (NASDAQ:PUMP) released its quarterly earnings results on Thursday. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.31), Briefing.com reports. The firm had revenue of $529.50 million for the quarter, compared to analyst estimates of $525.58 million. During the same quarter in the prior year, the company earned $0.45 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis.

Shares of Asante Solutions stock traded down $4.59 during midday trading on Friday, hitting $12.75. The company had a trading volume of 9,552,620 shares, compared to its average volume of 1,350,357. The business has a fifty day moving average price of $18.34. Asante Solutions has a 12-month low of $11.27 and a 12-month high of $25.38.

Several equities analysts recently commented on PUMP shares. BidaskClub lowered shares of Asante Solutions from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. Raymond James set a $26.00 price objective on shares of Asante Solutions and gave the company a “buy” rating in a research report on Tuesday, July 2nd. B. Riley started coverage on shares of Asante Solutions in a research report on Friday, May 17th. They issued a “buy” rating and a $29.00 price objective for the company. Stifel Nicolaus lowered shares of Asante Solutions to a “buy” rating and set a $9.00 price objective for the company. in a research report on Thursday, May 23rd. Finally, Bank of America reaffirmed a “neutral” rating and issued a $18.00 price objective (down from $22.00) on shares of Asante Solutions in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. Asante Solutions presently has a consensus rating of “Buy” and an average price target of $22.91.



In related news, Director Spencer D. Armour III sold 22,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $18.95, for a total value of $426,375.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 67,500 shares of company stock valued at $1,278,000 over the last ninety days.

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 for Asante Solutions (NASDAQ:PUMP)

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