Asensus Surgical (NYSEAMERICAN:ASXC) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Asensus Surgical (NYSEAMERICAN:ASXC) released its quarterly earnings data on Tuesday. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01, reports. Asensus Surgical had a negative net margin of 1,409.77% and a negative return on equity of 103.62%. The company had revenue of $1.09 million during the quarter, compared to the consensus estimate of $1.50 million.

Asensus Surgical Price Performance

ASXC stock traded up $0.01 during trading on Friday, reaching $0.23. 942,626 shares of the stock were exchanged, compared to its average volume of 1,723,563. The company has a market capitalization of $60.56 million, a PE ratio of -0.68 and a beta of 1.49. Asensus Surgical has a 1 year low of $0.20 and a 1 year high of $1.18.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Asensus Surgical by 5.3% in the third quarter. Vanguard Group Inc. now owns 11,431,792 shares of the company’s stock valued at $5,130,000 after buying an additional 575,904 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Asensus Surgical by 3,552.4% in the 2nd quarter. Millennium Management LLC now owns 5,040,838 shares of the company’s stock worth $2,007,000 after acquiring an additional 4,902,823 shares during the last quarter. BlackRock Inc. boosted its position in shares of Asensus Surgical by 1.2% during the 2nd quarter. BlackRock Inc. now owns 3,699,987 shares of the company’s stock worth $1,868,000 after purchasing an additional 44,503 shares during the period. Geode Capital Management LLC increased its holdings in Asensus Surgical by 3.7% in the 1st quarter. Geode Capital Management LLC now owns 2,267,381 shares of the company’s stock valued at $1,492,000 after purchasing an additional 80,678 shares during the last quarter. Finally, Masters Capital Management LLC raised its position in Asensus Surgical by 8.5% in the second quarter. Masters Capital Management LLC now owns 2,000,000 shares of the company’s stock valued at $1,010,000 after purchasing an additional 157,000 shares during the period. 10.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ASXC has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $2.00 price target on shares of Asensus Surgical in a research report on Wednesday. Cantor Fitzgerald cut Asensus Surgical from an “overweight” rating to a “neutral” rating in a report on Thursday.

Asensus Surgical Company Profile

Asensus Surgical, Inc, a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery (MIS) in the United States, Europe, the Middle East, Africa, and Asia. It digitizes the interface between the surgeon and the patient to pioneer a new era of Performance-Guided surgery by unlocking clinical intelligence for surgeons to enable consistently superior outcomes and a new standard of surgery.